Tunesia, Egyt and now Yemen: a domino effect in the Middle East?

Lindsey Hilsum, a Channel 4 News correspondent in Cairo, reported via Twitter that Hossam Badrawy, the new secretary-general of the Mubarak regime's National Democratic Party, "just told me he expects President Mubarak to pass his powers to his vice president tonight," in a televised address. She added that Dr. Badrawy "told me in three meetings yesterday and phone call today he convinced President Mubarak to pass powers to" Omar Suleiman, the intelligence chief he appointed vice president days into the protests.

Dr. Badrawy is an influential figure within the party. He is considered a reformer and was formerly close to Gamal Mubarak, the president's son and presumed heir. This week, he personally accompanied Wael Ghonim, a protest organizer released after 12 days in custody, back to his home.

there goes a billion dollars

9.29pm GMT: My colleague Matt Wells has just spoken to Jack Shenker in Tahrir Square, where the mood is one of fury.

Jack says the people were huddled around radios listening to the speech in silence. But once it became clear that Mubarak intended to stay on, the mood changed to anger.

Quote:

At one point Mubarak made a reference to being a young man and understanding the young men of Egypt – basically the people who are here – and at that moment the whole square erupted in anger. At that point, the whole square exploded in anger. The way that Mubarak is comparing himself to the people on the ground infuriated them.

And when it became clear that the that Mubarak intended to stay on until September, the square shook with fury. "We are not going until he goes," they chanted.

There is real anger and real fury and people are not quite sure in which direction to channel it. As I speak to you now, one man is holding a banner next to me which says: "Freedom or I die here." Tears are running down some people's faces. They really thought he was going to go.

There is a feeling that people want to get on the move now. I can hear this chant: "We'll go to the palace and tear him out."

But once it became clear that Mubarak intended to stay on, the mood changed to anger.

Questioning now as to where the signals got crossed.

9:51pm GMT: This is interesting: the BBC's Paul Adams reports that people in Cairo are receiving text messages from the high council of the army, saying that it is monitoring how events unfold and will decide how to act.

9.48pm GMT: Mubarak's address was watched by President Obama onboard Air Force One. He is planning to go straight from his plane to meet with his national security team at the White House.

"This is not what the [US] administration was told President Mubarak was going to do," reports CNN political correspondent John King.

Saudi Arabia has already pledged to pick up the loss of our funds.

This is not what the [US] administration was told President Mubarak was going to do," reports CNN political correspondent John King.