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NewsMail Morning Edition
Wed 22 May, 2013

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Survivors pulled from tornado debris as death toll lowered

Emergency crews have pulled more than 100 survivors from the rubble of buildings shredded by a powerful tornado which tore a path through Oklahoma City.

Residents had less than 20 minutes' notice to take cover from the tornado, which laid waste to several neighbourhoods and devastated the town of Moore.

The death toll has been significantly lowered to 24 after earlier being put as high as 91.

Among the dead are seven children who were killed when the violent funnel of wind hit their school.

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The Drum

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Buckle up for the Aussie dollar rollercoaster ride

This time last year the 2012-13 budget was handed down a week after the RBA lowered the cash rate by 50 basis points and when the exchange rate was at record post-float highs.

This year in the week prior to the budget, the RBA lowered the cash rate to a 50-year low of 2.75 per cent, and the budget delivered a deficit. While it charted a course back to surplus, it was hardly contractionary. And yet down went the dollar.

Even when you get the fundamentals right the exchange rate can make a fool of you.

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Just In

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French activist kills himself in gay marriage protest

A far-right French historian has shot himself dead at the altar of the Notre Dame Cathedral in Paris in a protest against France's adoption of gay marriage.

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World

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French activist kills himself in gay marriage protest

A far-right French historian has shot himself dead at the altar of the Notre Dame Cathedral in Paris in a protest against France's adoption of gay marriage.

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Business

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Treasury figures not swayed by Government: Parkinson

The head of the federal Treasury Martin Parkinson says his department is not swayed by its political masters.

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Politics

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UK gay marriage bill passes major hurdle

A bill to legalise gay marriage in Britain has passed the country's lower house and will now go the the House of Lords for consideration.

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Sport

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Benji makes quick return to Tigers line-up

Wests Tigers have recalled Benji Marshall to the number six jersey for Friday night's match against the Cowboys.

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Science and Technology

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Apple denies using gimmicks to dodge taxes

Apple chief Tim Cook has faced a grilling by US lawmakers on "sham" subsidiaries and "convoluted" strategies to shift profits offshore, but he has denied the company uses "gimmicks" to cut taxes.

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Environment

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Global warming could be slower than first thought: report

A new report says the planet may be warming slower in the short-term than had been previously projected.

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