Guccifer,
$req= mysql_query("select * from `news`");
$lastday = '';
while ($res= mysql_fetch_array($req)) {
$day = date("d-M", $res['time']);
if ($day != $lastday) echo '<div>'.$day.'</div>' ;
echo '<div>'.date("H:i", $res['time']) . $res['text'] . '</div>';
$lastday = $day;
}ну типа как-то так...