12AM ET 07/03/2025 Newscast

Summary

Fox News Hourly Update - July 3, 2025 | 12AM ET Newscast

Hosted by Fox News Radio, this episode delivers the latest updates on politics, legal matters, accidents, weather, and financial markets.

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1. Congressional Developments: House Advances Tax and Spending Bill

Carmen Roberts opens the newscast discussing the ongoing drama in the House of Representatives as lawmakers push to initiate debate on the Senate's revised version of the President's expansive tax and spending bill.

Speaker Mike Johnson commented on the situation at [00:17]:

"We liked the House version better as no surprise about that. And we had reached a very delicate balance on it. So it's taken a little while to go through the changes to have everybody fully process that and figure out what that means for them and their districts. And that's part of the process."

The bill faces internal pressure as fiscal hawks advocate for significant spending cuts, while moderates express concerns over reductions to Medicaid and other social safety nets. Democrats remain firmly opposed to the legislation. Congresswoman Alexandria Ocasio-Cortez delivered a strong rebuttal on the House floor at [00:45]:

"Losing all your health care, not able to feed your babies, not being able to put a diaper on their bottom, in exchange for what? This bill is a deal with the devil."

Currently, the bill requires only three Republican defections to begin debate and ultimately pass. However, there are five GOP holdouts, complicating the path forward.

2. Legal News: Sean "Diddy" Combs Acquitted on Serious Charges

In a significant legal development, Sean "Diddy" Combs faces up to 20 years in prison but secures a crucial victory. An unnamed legal analyst remarked at [01:13]:

"It's a great victory for Sean Combs. It's a great victory for the jury system."

Despite being convicted by eight men and four women on charges of transportation to engage in prostitution, the jury delivered a not guilty verdict on more severe charges of sex trafficking and racketeering. An unnamed court reporter detailed the outcome at [01:18], noting:

"When the not guilty verdicts were read, Diddy was seen inside falling to his knees in prayer."

3. Sports Legal Controversy: Buffalo Bills' Maxwell Hairston Accused of Sexual Assault

Fox Weather reports concerning allegations involving a Buffalo Bills player. Jared Max provides details at [03:58]:

"Maxwell Hairston, a first-round draft pick by the Buffalo Bills this spring, had a suit filed against him Tuesday for alleged sexual assault by Rebecca Hendricks, who claims that while they were in college at the University of Kentucky in early 2021, living in the same dorm that Hairston forced his way into her room and sexually assaulted her."

Hendricks asserts she reported the incident to law enforcement promptly. However, police in Lexington have no records of such a report. The Bills' general manager, Brandon Bean, defended Hairston, describing him as an "impeccable kid" who even volunteered for a polygraph test, indicating "zero information" supporting the accusations.

4. Aviation Accident: Skydiving Plane Crashes Near Southern New Jersey

A tragic incident occurred as a Cessna 208B skydiving plane crashed near the Cross Keys Airport in southern New Jersey at [01:36]. The Federal Aviation Administration (FAA) reports that fifteen individuals were hospitalized following the crash, which happened in the rough woods near the airport. Investigations are ongoing, with no immediate cause identified.

5. Maritime Tragedy: Ferry Sinks Near Bali

In international news, a ferry sank on Wednesday night in rough seas near Bali, Indonesia, resulting in 38 people missing. Rescue crews have recovered four bodies and successfully saved 23 individuals. Efforts continue as authorities work to locate all missing persons and assess the situation.

6. Weather Advisory: Tropical System Threatens Fourth of July Celebrations

Meteorologist Mike Seidel briefs listeners on a potential tropical system near Florida's coast at [03:15]:

"The National Hurricane Center is monitoring an area just off the southeast coast of the US Southwest into the northeastern Gulf. A front is moving offshore. It's going to stall out. And this time of the year, that could mean low pressure may develop along that front and become tropical in nature. The odds the next couple of days are zero, but the seven-day forecast, the odds of development are 40% in the short term."

Seidel warns of locally heavy rains around the Tampa Bay area in the next few days, with increasing chances of rainfall extending to the beaches of the Carolinas and Georgia from Sunday into the following week, including Clearwater Beach, Florida.

7. Financial Markets: S&P 500 and Nasdaq Hit Record Highs Post Trade Deal

The financial markets saw significant gains as both the S&P 500 and Nasdaq closed at record highs, marking their third consecutive record-setting session. This surge follows the Trump administration's announcement of a new trade deal with Vietnam, which has positively impacted investor confidence and market performance.

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Stay informed with Fox News Radio for continuous updates on breaking news and essential stories shaping our world.

Transcript

[Carmen Roberts]

Late night House drama. I'm Carmen Roberts, FOX news. The House is moving forward trying to begin debate on the Senate's revised version of the president's sprawling tax and spending bill. Speaker Mike Johnson tells FOX News this is just part of the process.

[Mike Johnson]

We liked the House version better as no surprise about that. And we had reached a very delicate balance on it. So it's taken a little while to go through the changes to have everybody fully process that and figure out what that means for them and their districts. And that's part of the process.

[Carmen Roberts]

Fiscal hawks are pushing for deeper spending reductions and moderates are worried about cuts to Medicaid and other social safety nets. Democrats are solidly against the bill. Congresswoman Alexandria Ocasio Cortez on the House floor.

[Alexandria Ocasio-Cortez]

Losing all your health care, not able to feed your babies, not being able to put a diaper on their bottom, in exchange for what? This bill is a deal with the devil.

[Carmen Roberts]

Republicans can only lose three votes to begin debate and ultimately pass the bill. Currently, there are five GOP holdouts. Sean Diddy Col will stay locked up until his sentencing for two prostitution crimes. The jury found him not guilty on the more serious sex trafficking and racketeering charges.

[Unnamed Legal Analyst]

It's a great victory for Sean Combs. It's a great victory for the jury system.

[Unnamed Court Reporter]

There was equal enthusiasm inside court today when Diddy was acquitted on the most serious charges. Eight men and four women on the jury did convict Diddy, though, on those two counts of transportation to engage in prostitution. When the not guilty verdicts were read, Diddy was seen inside falling to his knees in prayer.

[Carmen Roberts]

Fox's CB Cotton Combs faces up to 20 years in prison. Fifteen people were taken to a hospital after a skydiving plane went off the Runway and crashed in the woods near an airport in southern New Jersey. The FAA says the plane was a Cessna 208B that crashed at the Cross Keys Airport southeast of Philadelphia. No word on the cause. America's listening to FOX News.

[Unnamed Business Analyst]

It's an interesting time for business. Tariff and trade policies are dynamic. Supply chains are squeezed and cash flow tighter than ever. If your business can't adapt in real time, you're in a world of hurt. You need total visibility from global shipments to tariff impacts to real time cash flow. That's Netsuite by Oracle, your AI powered business management suite trusted by over 42,000 businesses. NetSuite is the number one cloud ERP for many reasons. It brings accounting, financial management, inventory, HR into one suite. You have one source of truth giving you the visibility and control you need to make quick decisions. With real time forecasting, you're peering into the future with actionable data. And with AI embedded throughout, you can automate a lot of those everyday tasks, letting your team stay strategic. Netsuite helps you know what's stuck, what it's costing you and how to pivot fast. If your revenues are at least in the seven figures, download the free ebook Navigating Global Trade. Free insights for [e-mail] fox that's netsuite.com fox.

[Carmen Roberts]

Forecasters are watching a tropical system off the coast of Florida that may cause problems for the Fourth of July holiday celebrations.

[Mike Seidel]

The National Hurricane center is monitoring an area just off the southeast coast of the US Southwest into the northeastern Gulf. A front is moving offshore. It's going to stall out. And this time of the year, that could mean low pressure may develop along that front and become tropical in nature. The odds the next couple of days are zero, but the seven day forecast, the odds of development are 40% in the short term. Watch out for locally heavy rains around the Tampa Bay area the next couple of days and those chances increase across the beaches of the Carolinas and Georgia Sunday into next week in Clearwater Beach, Florida. I'm meteorologist Mike Seidel.

[Carmen Roberts]

FOX WEATHER A player for the Buffalo Bills faces allegations of sexual assault.

[Jared Max]

Maxwell Hairston, a first round draft pick by the Buffalo Bills this spring, had suit filed against him Tuesday for alleged sexual assault by Rebecca Hendricks, who claims that while they were in college at the University of Kentucky in early 2021, living in the same dorm that Hairston forced his way into her room and sexually assaulted her. Hendricks claims in her suit she reported the alleged assault to law enforcement within hours. According to espn, police in Lexington said they don't have such a report against Bill's rookie Maxwell Hairston, who was, quote, fully investigated by the Bills before they drafted him in April. When team general manager Brandon Bean called Hairston an impeccable kid who, quote, even volunteered to do a polygraph, he said it was one of those where there was zero information saying that this actually happened to what the accusation was. Jared Max, FOX News Rescuers are searching.

[Carmen Roberts]

For 38 people missing after a ferry sank Wednesday night in the rough seas near Indonesia's resort island of Bali. Crews have recovered four bodies and rescued 23 people. The S&P 500 and Nasdaq closed at records, their third in four sessions. This after the Trump administration announced a trade deal with Vietnam. I'm Carmen Roberts. This is FOX News.

[Unnamed Business Analyst]

It's an interesting time for business. Tariff and trade policies are dynamic, supply chains are squeezed and cash flow tighter than ever. If your business can't adapt in real time, you're in a world of hurt. You need total visibility from global shipments to tariff impacts to real time cash flow. That's NetSuite by Oracle, your AI powered business management suite. Trusted by over 42,000 businesses, NetSuite is the number one Cloud ERP for many reasons. It brings accounting, financial management, inventory, HR into one suite. You have one source of truth giving you the visibility and control you need to make quick decisions. With real time forecasting, you're peering into the future with actionable data. And with AI embedded throughout, you can automate a lot of those everyday tasks, letting your team stay strateg. Netsuite helps you know what's stuck, what it's costing you, and how to pivot fast. If your revenues are at least in the seven figures, download the free ebook Navigating Global Trade 3 Insights for Leaders at netsuite.com fox that's netsuite. Com fox.