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November 9th, 2012
10:38 AM ET

Need to Know News: Obama to speak about economy today; Iran defends its right to confront airspace incursions

Each day, we here at "Piers Morgan Tonight" put together the news you need to know – from what happened last night to what will happen today.

For November 9, 2012 – President Barack Obama to speak about economy today, now a snowstorm and power's out again in parts of Northeast, Iran defends its right to confront airspace incursions and Navy SEALs punished for revealing secrets to video game maker...

• President Barack Obama to speak about economy today: "The 1:05 p.m. ET statement in the East Room will serve as an opportunity to address some of the big issues that Washington will tackle in the next few months – including staving off the so-called fiscal cliff – and to outline his priorities moving forward."

• Iran defends its right to confront airspace incursions: "Iran defended its right to 'confront' incursions into its territory after the Pentagon said two Iranian jets fired on an unmanned U.S. Air Force drone last week."

• Gas rationing to start in N.Y.: "For those in the New York area suffering not only from the devastating storms but also from gas lines that have lasted longer than a work shift, some relief is on the way Friday. Leaders announced gas rationing in New York City and Long Island in an effort to address the gas shortage brought on by the one-two punch of Superstorm Sandy and this week's nor'easter."

• Stocks falter at the open: "U.S. stocks opened little changed Friday, as disappointing corporate results weighed on sentiment."

• Navy SEALs punished for revealing secrets to video game maker: "Seven U.S. Navy SEALs have been reprimanded for giving up classified information connected to their tradecraft so a video game could seem more realistic, according to a navy official."

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