The Latest: 04/07/2025 09:59am ET

All the latest national and international news. Topics also include finance, weather and entertainment.

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Episode Transcript

Speaker 1 (00:00):
This is your twenty four to seven use update. The
latest use this hour in just four minutes.

Speaker 2 (00:08):
Wall Street is opening sharply lower as global sell offs
over tariffs slams markets. Asia fell overnight in Hong Kong
tumble thirteen percent, while Europe slid more than five percent.
Across the board, stocks are plunging again in the US
that Dow has plunged twelve hundred points. Business and Data
correspondent Brian Chung.

Speaker 3 (00:26):
People have been talking over the weekend over the concern
that US treasury markets could dry up, the stock market
could dry up. There could be a lot of ripple
effects and domino effects where a tariff crisis turns into
potentially a financial crisis.

Speaker 2 (00:40):
Bank greats Greg McBride.

Speaker 4 (00:42):
It's that uncertainty that can often lead a lot of
the big ball Street.

Speaker 3 (00:46):
Investors to sell first and ask questions later.

Speaker 2 (00:49):
He expects inflation to tick up, leaving the Federal Reserve
stuck between I rock and a hard place. It essentially
can't raise or cut rays because there are so many
unknowns with a tear graffs and the amount of time
they'll remain in place. A million plus people took part
in anti Trump protests over the weekend. Rallies were held

(01:13):
in all fifty states, as well as around the world
in response to the Trump administration's actions. Organizers of the
hands Off protests also took aim at elam Musk, saying
they have three demands to end the billionaire takeover and
rampant corrumption of the Trump administration, and end to slashing
federal funds for medicaid, social Security and other programs working

(01:35):
people rely on. And an end to the attacks, and
an end to the attacks on immigrants, trans people, and
other communities. TikTok is getting a seventy five day extension
to continue operating in the US. President Trump told reporters
aboard Air Force one yesterday that an agreement to sell
off the app to a US owner was close, then
China changed the deal because of tariffs. Chinese own parent

(01:58):
company Bye Dance Hat until April fifth to divest from
the app or base a permanent ban in the US.
I'm Michael Cassner. The IRS is cutting twenty five percent
of its staff On Friday. Employees in the Office of
Civil Rights and Compliance where dismissed via email ahead of
even more planned layoffs. The office dedicated to preventing discrimination

(02:19):
lost roughly one hundred and thirty employees. Those remaining in
the department have reportedly been moved to the Office of
Chief Counsel. Aside from gathering relevant documents, tax experts say
first time tax filers should make sure they know the
rules and obey them. Sara Lee Kessler, with more.

Speaker 1 (02:39):
Tax experts, say, if you're a first time tax filer,
make sure you obey the rules because pleading ignorance won't
cut it with the IRS. Or A Nadler, a certified
public accountant in Fairlawn, New Jersey, says forget about trying
to game the system, because the IRS will find out.

Speaker 4 (02:56):
When you get a W two ten ninety nine. Those
documents are also sent to the government and they make
sure that your information is reported properly. So it's very
important to be compliant, but to also use the tax
code to minimize your taxes.

Speaker 1 (03:10):
Adler also says first time filers should make sure to
take all the deductions they're entitled to take.

Speaker 4 (03:16):
If you're a teacher, there's deductions you can take for
the money you spend for our goods in the classroom
charity that you can deduct. Paying down your student loans,
child tax credits, and earn income tax credits also come
into play.

Speaker 1 (03:29):
He also recommends filing electronically and says refund checks are
often issued in less than a week.

Speaker 2 (03:39):
Actor Jane North, who played Dennis Mitchell in the nineteen
sixty sitcom Dennis the Menace, has died. He was seventy three.

Speaker 3 (03:47):
Missus Dennis, can I speak to join for a minute?

Speaker 2 (03:51):
North had been fighting cancer for a number of years.
He passed away at his home in Florida on Sunday.
He also appeared in other shows, such as The Man
from Uncle Lassie General Hospital in The Simpsons A Michael
Cassner