With XNews you can post the news on the front page easily enough, change the number of items you want to show, and edit the template just to show the headline, date, etc., however the headlines are not included in a scrolling iframe.
To do the scrolling iframe, you'd have to create a new php file and setup the template to display news on a page by itself, and then include the file in an iframe on the front. If that sounds difficult, feel free to contact me for a quote on the customization.
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