At least 12 missing after oil rig explosion in the Gulf of Mexico

At least 12 people were missing and seven were injured after an oil rig explosion off the coast of Louisiana, said the US Coast Guard Wednesday.

About 126 people were on the platform at the time of the explosion. The explosion happened at around 10 p.m. on Tuesday and it was reported that the rig was still burning on Wednesday. (CNN).

"It's burning pretty good and there's no estimate on when the fire will be put out," Coast Guard Senior Chief Petty Officer Mike O'Berry said.

The Coast Guard sent helicopters and four cutters to the rig to help evacuate people and look for the missing. Several people were hospitalized including two who were taken to a mobile trauma center. (USA Today).

The Minerals Management Services along with the Coast Guard are still investigating the cause of the fire.

 "It's still too early to tell the cause," Greg Panagos, spokesman for the rig's owner, Transocean Ltd, said. "Our focus right now is on taking care of the people."

 Obama to pick new Supreme Court Justice

Republican and Democratic party leaders met with President Obama Wednesday to discuss a replacement for retiring Supreme Court Justice Paul Stevens.

Stevens, who turned 90 on Tuesday, announced that he will be retiring after the Supreme Court's term ends in June. (CNN).

In his beginning comments, Obama said he wants the new Justice to support individual rights, as well as womens rights. In remarks before the meeting Obama said that Stevens leaves "tough shoes to fill." (CNN).

Obama has been calling the possible candidates for the vacancy, however, details of the conversations have not been disclosed. The White House has created a shortlist of 10 possible candidates, but Obama has added a few more to the list before making his decision.

"I'm confident that we can come up with a nominee that will gain the confidence of the Senate and the confidence of the country," Obama said.

Three names that are high on the list are Solicitor General Elena Kagan and federal appeals judges Diane Wood and Merrick Garland, said White House Officials. (CNN).

New $100 bill unveiled

The first change to the $100 bill since 1996 was unveiled Wednesday by Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke.

The new $100 bill will be equipped with new security features including the watermark portrait of Benjamin Franklin, the security thread and the color shifting numeral 100. (The Wall Street Journal).

 "As with previous U.S. currency redesigns, this note incorporates the best technology available to ensure we're staying ahead of counterfeiters," Mr. Geithner said.

The bill will go into circulation Feb. 10, 2011.