You can limit the posts to display only a defined amount of post/menu item, just edit the menu item "News" and define a number fo Limit and that's it. If there are more posts than the limit set a paging are will appear in the bottom of the page.
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Fri, 24 Jul 2009 07:34:05 BST by admin, 1 views
Fri, 24 Jul 2009 07:31:59 BST by admin, 66 views
For news you can use partial content. To separate the header of a post from the rest of the content just insert a Page Break when you edit the content and that's it. for e.g. here is the end of the header cos here is the break.