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Barack Obama carried North Carolina by 14 points and lost narrowly to Hillary Clinton in Indiana, by 23,000 votes. "If anything, Mrs. Clinton's hopes for overtaking Senator Barack Obama dwindled further on Tuesday night," writes Adam Nagourney for the New York Times. "We now know who the nominee is going to be," NBC's Tim Russert proclaimed (video), noting that Clinton had canceled most of her Wednesday public appearances.

Publicly, she vowed to fight on, saying, "It's full speed on to the White House." But it would appear that she didn't pick up enough votes or delegates to remain viable, and her campaign is running out of money.

Europe

Dmitry Medvedev formally took power in Russia, vowing to "protect civil and economic freedoms" as the new president.

French President Nicolas Sarkozy doesn't want Tony Blair as EU president.

The European Commission is suing Italy over the trash problem in Naples.

Asia

The death toll in Burma could climb to 80,000, according to one estimate. The junta is now allowing the U.N. to deliver some aid supplies.

The Olympic torch could reach the top of Mt. Everest soon.

Chinese President Hu Jintao wants the Dalai Lama to show "sincerity."

China and Japan reached a major deal promising a "new starting point" between the two countries.

Global Economy

Oil prices could hit $200 a barrel by year's end, Goldman Sachs predicts.

The global food crisis is the product of "human greed," according to the head of South Africa's development bank.

Middle East and Africa

Tensions are flaring in Beirut, where Hezbollah supporters blockaded streets across the city Wednesday and rival youths threw rocks at one another.

The LA Times looks at the problem of Moqtada al-Sadr.

Israeli PM Ehud Olmert is in big political trouble.

Today's Agenda

U.S. President George W. Bush gives the keynote address at the Council of the Americas' Washington conference.

Nicaragua is hosting a regional summit on high food prices.

Yesterday on Passport

• Tuesday Map: Burma’s cyclone aftermath
• Khatami: We are terrorists
• Georgia and Russia ‘very close’ to war?