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Hi there, I'm Ricky with the BBC World News for Children. It's Monday the 24th of May.

Coming up:

South Korea freezes trade with North

Boy becomes youngest person to climb Everest

and Inter Milan are crowned European champions

But first - South Korea has announced the suspension of almost all commercial ties with North Korea. The President Lee-Myung -Bak made the decision after evidence was released showing that the North sunk of one of its warship causing the death of 46 of its sailors. The US Secretary of State, Hillary Clinton, who is visiting China, said all the countries in the region need to come together to restrain North Korea.

CLIP: Today we face another serious challenge, provoked by the sinking of the South Korean ship. So we must work together again to address this challenge and advance our shared objectives for peace and stability on the Korean Peninsula. We ask North Korea to stop its provocative behaviour, halt its policy of threats and belligerence toward its neighbours, and take irreversible steps to fulfill its denuclearisation commitments and comply with international law

Next up, the volcano in Iceland that's been causing chaos for loads of flight around the world seems to be cooling off. The latest measurements show its now releasing steam clouds, rather than ash. However - Docter Hazel Rymer, a volcanologist at The Open University, says its probably not the last we're going to hear from it.:

CLIP: It will erupt again, that's for sure. Whether it's going to erupt again in this cycle has yet to be seen. Last time it erupted it did last for several months, but it wouldn't have erupted absolutely continuously all that time. It would have had quieter periods in between, so it may be that that's all we're seeing here.

Next, many shops and government offices in Bangkok - the capital of Thailand have re-opened after days of political fighting. Schools opened their gates again after being shut since last week. However, a BBC correspondent in Bangkok says parts of the capital still bear the scars of street battles and anti-government riots, and it will be some time before things return to normal.

The Space shuttle Atlantis is on its way back to Earth - marking the end of 25 years of service for NASA. On Sunday, Atlantis finished its last mission to the International Space Station. The Shuttle's job will be mostly taken over by Russian Soyuz space craft as NASA reduces its shuttle fleet for cost and safety reasons.

In footy - Inter Milan are the winners of the Champions League...The side beat Bayernn Munich 2 nil in Madrid. Celebrations for their boss Jose Mourinho too as he became only the third man to lead two different clubs to Europe's top club prize.

And finally congratulations to Jordan Ramero from America. At the age of 13, he's become the youngest boy to climb Mount Everest! He reached the top of Everest on Saturday morning. The first thing he did was call his mum.

OK, that's all from the World News for Children team. We're back with more top stories tomorrow. Bye!