If not already logged in, Login to the front-end control panel by going to the home page of your website.
Click on Modify/Delete Newflashes from the USER menu (not the MAIN menu).
You will see a list of all the news items currently live on the site.
If you want to modify a newsflash, click the edit button next to the newsflash headline.
If you want to delete a newsflash, press the button next to the newsflash headline.