<div style="clear:both"></div>

#section{
    width: 560px;
    float: left;
    font-size: 0.8em;
    position: relative;
}
.dl .dd h4{
    font-size: 0.9em;
 }
.dl h4 a{
    text-decoration: none;
    font-weight: normal;
}
.dl h4 a:hover{
    text-decoration: underline;
}
.dl .dt{
    float: left;
    width: 100px;
    height: 75px;
    font-size: 0.5em;
    margin: 0 0 5px 0;
}
.dl .dd{
    width: 480px;
    float: right;
}
.dl .wrapper { /* new element added */
    overflow: hidden;
    height: 100%;
    padding: 10px 0 5px;
}
.dl .dd p{
    font-size: 0.7em;
    font-style: italic;
}


/* No need of this code
.dl:after,
.dl .dt:after,
.dd:after,
.dl .dt img:after
{
    content:"";
    height: 0;
    clear: both;
    display: block;
}
*/

<div class="dl">
  <div class="wrapper">
      <div class="dt"><img src="/news_pics/16.jpg" alt="pic 1" width="100px" height="75px"/> </div>
      <div class="dd"><p>12 06 2012</p><h4><a href="#">News 1 title khfk ds khf kdsfkdsh fkkds hfkhdsjkf kj kjs hdfkjdsk kds k hfkjhds k ks hdfkjhds fjk hdsk hfkjds kgjkl f dflgk dflkdf lk lf jdl glklk dllgdldl l dfljlgkjdflgkjdf</a></h4></div>
  </div>
  <div class="wrapper">
      <div class="dt"><img src="/news_pics/16.jpg" alt="pic 2" width="100px" height="75px"/></div>
      <div class="dd"><p>21 05 2012</p><h4><a href="#">News 2 title</a></h4></div>
  </div>
  <div class="wrapper">
      <div class="dt"><img src="/news_pics/16.jpg" alt="pic 3" width="100px" height="75px"/></div>
      <div class="dd"><p>19 05 2012</p><h4><a href="#">News 3 title title khfk ds khf kdsfkdsh fkkds hfkhdsjkf kj kjs hdfkjdsk kds k hfkjhds k ks hdfkjhds fjk hdsk hfkjds kgjkl f dflgk dflkdf lk lf jdl glklk dllgdldl l dfljlgkjdflgkjdf</a></h4></div>
  </div>
  <div class="wrapper">
      <div class="dt"><img src="/news_pics/16.jpg" alt="pic 4" width="100px" height="75px"/></div>
      <div class="dd"><p>8 05 2012</p><h4><a href="#">News 4 title</a></h4></div>
  </div>

.dl .dd p{
   width: 210px; //changed
    font-size: 0.7em;
    font-style: italic;
}

<div class="fix_float">
   <dt>
      date content
   </dt>
   <dd>
        text content
   </dd>
</div>

enter code here

<ul class="ul">
    <li class="li">
        <img src="/news_pics/16.jpg" class="thumb" width="100" height="75">
        <div class="text">
            <p class="date">
                12 06 2012
            </p>
            <h4>
                <a href="" class="title">
                    News 1 title khfk ds khf kdsfkdsh fkkds hfkhdsjkf kj kjs hdfkjdsk kds k hfkjhds k ks hdfkjhds fjk hdsk hfkjds kgjkl f dflgk dflkdf lk lf jdl glklk dllgdldl l dfljlgkjdflgkjdf
                </a>
            </h4>
        </div>
    </li>
    <li class="li">
        <img src="/news_pics/16.jpg" class="thumb" width="100" height="75">
        <div class="text">
            <p class="date">
                12 06 2012
            </p>
            <h4>
                <a href="" class="title">
                    News 1 title khfk ds khf kdsfkdsh fkkds hfkhdsjkf kj kjs hdfkjdsk kds k hfkjhds k ks hdfkjhds fjk hdsk hfkjds kgjkl f dflgk dflkdf lk lf jdl glklk dllgdldl l dfljlgkjdflgkjdf
                </a>
            </h4>
        </div>
    </li>
</ul>

.ul {
margin: 0;
padding: 0;
list-style: none;
}
.li {
overflow: hidden;
margin-bottom: 5px;
}
.thumb {
float: left;
width: 100px;
height: 75px;
}
.text {
margin-left: 120px;
}
.title {
font-size: 0.9em;
text-decoration: none;
font-weight: normal;
}
.title:hover {
text-decoration: underline;
}