Edit in JSFiddle

/*!
 * liScroll 1.0
 * Examples and documentation at: 
 * http://www.gcmingati.net/wordpress/wp-content/lab/jquery/newsticker/jq-liscroll/scrollanimate.html
 * 2007-2010 Gian Carlo Mingati
 * Version: 1.0.2.1 (22-APRIL-2011)
 * Dual licensed under the MIT and GPL licenses:
 * http://www.opensource.org/licenses/mit-license.php
 * http://www.gnu.org/licenses/gpl.html
 * Requires:
 * jQuery v1.2.x or later
 * 
 */


jQuery.fn.liScroll = function(settings) {
        settings = jQuery.extend({
        travelocity: 0.07
        }, settings);        
        return this.each(function(){
                var $strip = jQuery(this);
                $strip.addClass("newsticker")
                var stripWidth = 1;
                $strip.find("li").each(function(i){
                stripWidth += jQuery(this, i).outerWidth(true); // thanks to Michael Haszprunar and Fabien Volpi
                });
                var $mask = $strip.wrap("<div class='mask'></div>");
                var $tickercontainer = $strip.parent().wrap("<div class='tickercontainer'></div>");                                
                var containerWidth = $strip.parent().parent().width();    //a.k.a. 'mask' width     
                $strip.width(stripWidth);            
                var totalTravel = stripWidth+containerWidth;
                var defTiming = totalTravel/settings.travelocity;    // thanks to Scott Waye        
                function scrollnews(spazio, tempo){
                $strip.animate({left: '-='+ spazio}, tempo, "linear", function(){$strip.css("left", containerWidth); scrollnews(totalTravel, defTiming);});
                }
                scrollnews(totalTravel, defTiming);                
                $strip.hover(function(){
                jQuery(this).stop();
                },
                function(){
                var offset = jQuery(this).offset();
                var residualSpace = offset.left + stripWidth;
                var residualTime = residualSpace/settings.travelocity;
                scrollnews(residualSpace, residualTime);
                });            
        });    
};

$(function(){
    $("ul#ticker01").liScroll({travelocity: 0.15});
});

<ul id="ticker01">
    <li><span>10/10/2007</span><a href="#">The first thing ...</a></li>
    <li><span>10/10/2007</span><a href="#">End up doing is ...</a></li>
    <li><span>10/10/2007</span><a href="#">The code that you ...</a></li>
    <!-- eccetera -->
</ul>

/* liScroll styles */

.tickercontainer { /* the outer div with the black border */
border: 1px solid #000;
background: #fff; 
height: 27px; 
margin: 0; 
padding: 0;
overflow: hidden; 
}
.tickercontainer .mask { /* that serves as a mask. so you get a sort of padding both left and right */
position: relative;
left: 10px;
top: 8px;
overflow: hidden;
}
ul.newsticker { /* that's your list */
position: relative;
left: 750px;
font: bold 10px Verdana;
list-style-type: none;
margin: 0;
padding: 0;

}
ul.newsticker li {
float: left; /* important: display inline gives incorrect results when you check for elem's width */
margin: 0;
padding: 0;
background: #fff;
}
ul.newsticker a {
white-space: nowrap;
padding: 0;
color: #ff0000;
font: bold 10px Verdana;
margin: 0 50px 0 0;
} 
ul.newsticker span {
margin: 0 10px 0 0;
}