How do Russians translate "breaking news" caption on TV?
Сообщение ИТАР ТАСС с пометкой "Молния!"
Let me give some context:
You see, ИТАР ТАСС is one of Russian news agencies and сообщение с пометкой "Молния!" is a special kind of message that has to be delivered immediately. Its name comes from marks on urgent telegrams which were the closest approximation of old technologies to real-time communication. Since then, when "hot" news about an event is delivered to the TV studio during live broadcasting, the reporter may precede this message with words like К нам поступило сообщение с пометкой "молния".
So, it's not strictly speaking a translation of "Breaking news", but it is still quite common on the TV.