I'd like to kind of recreate Google's News Timeline.
http://i.stack.imgur.com/zcIsw.png
Can you recommend some suitable JavaScript/Ajax libraries?
I like Simile Timeline.
If you like to have a lot of thumbnail images in the timeline, see the Compact Painter version. (Unfortunately, a lot of the images used in the demo have moved, hence the blank thumbnails.)
Disclaimer: I've contributed to it in the past.
Maybe you can use the Timeline from the CHAP Links Library:
http://almende.github.com/chap-links-library/timeline.html
With this timeline you cannot create a view exactly as in the screenshot you show, but you cn put your items in "boxes". The CHAP Links Timeline is quite flexible easy to use. You can put your own HTML formatted items in the Timeline, and completely tune the css as you like.