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Giant technology firm Apple is paying billions of dollars less than it should in U.S. taxes each year, according to a report by the Senate Permanent Subcommittee on Investigations. In a hearing Tuesday in Washington, D.C., Apple CEO Tim Cook will defend the company.

The subcommittee's report says Apple avoids the tax payments mainly by shifting profits to three subsidiary companies in Ireland. The investigation found Apple is taking advantage of technicalities in U.S. and Irish tax laws to avoid paying any tax on a huge portion of its profits.

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STEVE INSKEEP, HOST:

JPMorgan Chase holds its annual shareholder meeting today in Tampa, Florida, and the shareholders will vote on a key measure: a proposal to strip the CEO, Jamie Dimon, of his other title, chairman of the board. A growing number of companies have split the CEO and chairman roles.

Shareholder activists and corporate governance experts say having a balance of power at the top helps to reduce risk. The bank and its supporters disagree. NPR's Yuki Noguchi reports.

Melissa Block talks to Casey Mongold, owner of Casey's Tire and Auto in Moore, Okla., where a tornado caused widespread destruction on Monday.

Melissa Block talks to Jon Hamilton about the science of tornadoes.

NBC News has put together a time-lapse video of the EF-4 tornado that tore through the southern suburbs of Oklahoma City, Okla.

As we told you in the live blog, the National Weather Service says it was at least an EF-4 tornado with winds in excess of 166 mph. The tornado stayed on the ground for 40 minutes and traveled 20 miles.

It's another bad day for the Justice Department.

A federal judge in Louisiana has thrown out the central criminal charge against a former BP executive because prosecutors failed to prove he knew about a pending congressional investigation into oil flowing into the Gulf of Mexico three years ago. U.S. District Judge Kurt Engelhardt also ruled that a Democratic House member who inquired about the oil flow rate was acting as head of a subcommittee, not a full congressional committee, as required under the federal Obstruction of Justice statute.

Although Oklahoma is a state where tornadoes are a fact of life, few days stand out like May 3, 1999.

(This post was last updated at 11:45 p.m. ET.)

A massive tornado ripped through the southern suburbs of Oklahoma City, Monday afternoon, killing at least 51 people, according to the state medical examiner's office.

The death toll was expected to rise.

Helicopter images showed large tracts of Moore, Okla., completely leveled by what the National Weather Service says was at least an EF-4 tornado with winds in excess of 166 mph. The tornado stayed on the ground for 40 minutes and traveled 20 miles.

Ray Manzarek, the keyboardist and a founding member of The Doors, died Monday in Germany. He was 74.

A statement from publicist Heidi Ellen Robinson-Fitzgerald said Manzarek died in Rosenheim, Germany, after a long battle with bile duct cancer.

Manzarek and Jim Morrison founded the iconic band after meeting in California. The Doors went on to become one of the most successful rock 'n' roll acts of the 1960s — and continues to have an impact decades after Morrison's death in 1971.

Yahoo's $1.1 billion purchase of Tumblr could be considered a bargain compared with its other big-dollar bets. The company's history is dotted with pricey purchases of once-hot Web properties that had more promise than eventual purpose. A look back:

GeoCities, 1999: $3.7 Billion

Melissa Block talks to Joe Wertz of the public radio initiative State Impact about the tornado that hit the Oklahoma City area on Monday.

When movie stars become unbankable, they're no longer a slam dunk at the box office. When investments become unbankable, they're relegated to the Wall Street's junk pile. For ordinary Americans deemed unbankable — those who don't have a traditional checking or savings account — it can be hard to simply pay bills.

And that absence of a bank account is about to become a big problem for those who also lack health coverage — and for the health insurance companies trying to sell them coverage. After all, how do you sell a product to a customer who has no easy way to pay you?

Microsoft hasn't exactly had a great couple of years.

Its new Windows 8 operating system was held responsible for the drop in PC sales last quarter. Sales of its Windows Phones lag far behind both the iPhone and Google's Android phones.

The light in the darkness for Microsoft has been the Xbox 360, which has been the top-selling game console for over two years — beating out both the Nintendo Wii and Sony's PlayStation. On Tuesday, Microsoft is expected to announce a new version of the Xbox.

Fox News said that it was "outraged," after learning that the Justice Department obtained the personal emails of one of its reporters during the course of a 2009 leak investigation.

The people of Portsmouth, England, on Monday turned out to bid farewell to the aircraft carrier HMS Ark Royal, destined for a Turkish scrap yard after its decommissioning two years ago.

William von Schneidau, an intrepid butcher in Seattle, is giving a whole new meaning to "potbelly pig." Lately, he's been feeding marijuana refuse to the pigs he turns into prosciutto for BB Ranch, his butcher shop in the city's famous Pike Place Marke

Beijing has long been about the closest thing to an ally that Pyongyang enjoys, but the seizure of a Chinese fishing boat by unidentified North Koreans has threatened to put an already tenuous relationship on even shakier ground.

Chinese Foreign Ministry spokesman Hong Lei was quoted by The New York Times as making it fairly clear that his government was not happy about the development.

The Internal Revenue Service is under fire for improperly singling out some conservative groups for extra scrutiny — putting them through months (or longer) of questions that delayed or derailed the organizations' requests for tax-exempt status.

Well, now the chairman and ranking Republican on the Senate Finance Committee have some questions and requests — actually dozens of them — for the IRS.

Over the past week, Pope Francis has launched a crescendo of attacks on the global financial system and what he calls a "cult of money" that does not help the poor.