I think I can be a "news junkie" sometimes, I read quite a lot of news. I've subscribed to various magazines and read quite a few news websites. Here's a list of what I read:
News websites from the UK, some London based, some Glasgow based, some elsewhere.
BBC News
I think one of the best news sites on the web, auntie BBC. Frequently updated and also with various RSS feeds. Different editions for the UK and worldwide, not to forget various regional pages.
BBC Sport
This site is part of the BBC News site, but worth a special mention. Usually very quick to pick up results in various live tickers. Also the occasional audio or video file.
The Independent
When I first moved to the UK, this was the newspaper I started to read. I'm still reading it every week in the print edition. The web edition has some of the main articles, sometimes with a few days delay.
The Guardian
Not a regular read, but if I can't get The Independent I usually opt for The Guardian. However, their web offerings are probably among the best.
The Herald
I haven't been able to find it in Swindon, but when I'm in Scotland this is the newspaper I usually read. The web edition has a small selection of the articles.
Sunday Herald
The Sunday edition of The Herald. Similar to the daily version a selection of articles is available online.
The Ileach
The fortnightly local newspaper for Islay and Jura. Some of it is available online, although I also receive the print edition. Partly to support the paper, partly to be able to read it all.
As a German living in the UK I read some German news to at least partly keep in touch with what's happening in Germany. It also gives me an opportunity of a different view of what's happening in the world to the UK view I get from the news I read here regularly.
Die Zeit
A weekly paper, of which I used to read the print edition. Most of it is also available on the web, including an excellent archive. The web edition also has some more current news not available in the weekly print edition.
heise online
Probably the best known IT news website in Germany. Frequently updated during the day, although sometimes a bit slow to pick up international news.
Der Spiegel
One of the best know news sites in Germany, the online subsiduary of this weekly magazine. The online version is frequently updated during the day, articles from the weekly print edition are available online as well (although usually not for free). I don't always like their style, but it's good enough for a quick update.
The Economist
A large business and economy focus in this weekly magazine, which I have subscribed to in the print edition. The web edition gives limited access to some articles for free, the rest requires a subscription.
BusinessWeek Online
Mainly US focused, although the international edition also looks at business news around the world. Similar to The Economist, the web edition gives limited access to some articles for free, the rest requires a subscription. I've subscribed to the print edition.
Business 2.0
Most of what is online now requires a subscription to read the full article (I have a subscription to the print edition, which includes the subscription for the online edition). Mainly "New Economy" and IT focused.
heise online
Already mentioned, so I just repeat it: Probably the best known IT news website in Germany. Frequently updated during the day, although sometimes a bit slow to pick up international news.
E-Commerce Times
Good news mainly around E-Business and E-Commerce, but also other IT related topics
Techdirt
Strictly speaking this is more a blog than a news source, but it is an excellent source to understand what's going on in the tech world.