12PM NEWS UPDATE

Millionaire businessman John Singleton has “laughed off” photos, depicting him in a heated exchange with a good friend Jack Cowin at a Sydney restaurant. Photographers caught the moment, the media tycoon appears to raise a “broken wine glass”, reportedly attempting to slash Mr Cowin’s ear.
Joe Hockey has strode into Parliament House in a buoyant mood just hours before delivering his budget. He says the deficit will be smaller than the 41 billion dollars economists have predicted and small business will get a 1.5 per cent tax cut. He even posed for a selfie with a 16 year old fan.
And fifty million Americans are under threat this morning from severe weather that’s lashing parts of the nation. Tornadoes, flash-flooding and blizzards have torn a path from SOUTH to NORTH, leaving scenes of total devastation.