I'm sure I've seen a post by someone with exactly the same problem as you and the answer was to turn on the virtual hosting... I know turning it on for me fixed a couple of problems + it makes it look nice and tidy :)
to your httpd.conf (assuming your using linux and uri). If you still get the same problem then it's something to do with either settings/site.ini or settings/siteaccess/news_admin(or news)/[overide files].
In site.ini check to see what your DefaultAccess is set to and enable debug output, cos that'll tell you what's wrong if nothing else does.