A Google Groups thread asks if they publish an article and it is found on Google News, but then want to make a change to that article - will it be updated?
The answer is no. Google News crawls the page once and will not come back to look for changes. A Google News representative confirmed this:
Currently the crawler crawls a particular article at a particular URL once. So in short, no.
You can get articles completely removed by submitting a written request, but that won't update the news story. In these cases, it is probably best to write a small "postscript" and link to a new story if warranted.
Want an example of a mess up that I personally did once or twice?
Back in August 2006, while at Search Engine Watch, I wrote a dumb typo where instead of writing "Google Has Too Much Money", I wrote, "Google Has Too Much Monday." It got indexed by Google News and showed up like this:
So these things do happen and they are hard to fix.
I do have a feeling Google News is working on something to update articles, but I have no insider information on this.
Forum discussion at Google Groups.