NewsScrollFree is a fairly bare-bones app but it offers a useful way to scroll through and view news while doing something else on your iPhone. It's fast and easy to use, and while customization is fairly limited, the core functionality is well executed for a free app.
When you start NewsScrollFree, it will automatically pull headlines from a number of news sources, most of them pulled from Google News. Each news story remains on the screen for a few seconds before it scrolls to the next. Swipe the screen and it will pause, opening a second menu to read the story in full. Tap the menu button and you can tweet, mail, or share the link with someone else. The whole thing works quite well and there were no slowdowns or hiccups, even when repopulating the news feed from the remote server. Settings are limited, but you can change the news source, the timing of the slider, and set things like auto sleep (by default, it will remain on unless you manually slide it to sleep, which can kill your battery).
While NewsScrollFree is not the most powerful news tracking app on the App Store, it is a very finely-made app that is easy to use and allows you to quickly and easily access any number of news stories, even as the device runs in the background while you work or work out.