August 25, 2026: Darline Graham Wins South Carolina Senate Runoff, US-Canada Trade Dispute, More
episodePreviously titled “Darline Graham Wins South Carolina Senate Runoff, US-Canada Trade Dispute, More” — renamed by the publisher on Aug 26, 2026
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News When You Want It with Bloomberg News Now, I'm Doug Krisner. U.S. Senator Darlene Graham has won the Republican nomination to replace her late brother on South Carolina's general election ballot. Graham has defeated U.S. Representative Ralph Norman in a special GOP primary runoff after the two were top finishers in a ten way primary race.
Who is Darline Graham and how did she secure the South Carolina Senate nomination?
Here is Graham's victory speech.
South Carolina Republicans, I humbly accept your nomination to serve as the Republican nominee for the United States Senate. from the great state of South Carolina. Thank you, thank you, thank you.
Graham will now face Democratic nominee Annie Andrews in November. Canada is reciprocating with new tariffs in its trade war with the U.S. Earlier Prime Minister Mark Carney unveiled levies on American steel and aluminum products at a rate of 50%. Now that matches what the U.S. has already implemented, and there will be new Canadian tariffs on American made milk, furniture, clothing and apparel, as well as video game content. Consoles, smartphones, and other electronics, and now we are learning the Trump administration is discussing additional trade penalties against Canada. We are told meta platforms and state attorneys general have discussed a possible mid-trial settlement of a case accusing the company of deliberately designing Facebook and Instagram to addict teens.
The federal trial in Oakland, California features four lead states.
What new tariffs is Canada imposing on U.S. steel, aluminum, and other goods?
California, Colorado, Kentucky, and New Jersey, they are representing a broader coalition of 29 State Attorneys General who originally filed suits against Meta beginning in 2023, and by Meta's own calculations, a loss at trial could saddle the company with penalties of as much as $1.4 trillion. The key executive overseeing OpenAI's data center build-out reportedly left the company. The Wall Street Journal says the exit of Chris Malone is part of a wave of leadership departures ahead of a planned IPO. Now, separately, OpenAI said its new processor, known as Jalapeno, performed better than the latest lineup from NVIDIA. OpenAI created Jalapeno in partnership with Broadcom. Here is Richard Ho, Vice President of Hardware at OpenAI.
AI. But it's a really
good chip. It should drop it by uh a lot. Like, you know, it the the performance per watt that we're seeing, which is a good proxy for how much token will cost, is somewhere in the region between you know, you know, 1.8 to 4x better than other existing chips right now. Um and so we should see that ultimately when this rolls out into production, customer token prices should come down. That's a big you know drive that we've had at OpenAI for a little while now.
What is the status of the Meta trial over teen‑addiction claims and what could the penalties be?
Um and this really is part of that strategy and and again it goes back to attacking not only in the software, but attacking all the way down into the hardware and even into the data centers as well.
That is Richard Ho, Vice President of Hardware at OpenAI. Now, the company is planning to begin using these new chips to support its AI models later this year. The equity market advanced today on a decline in Treasury bond yields. We had the Dow and the SP each rising three-tenths of one percent. The Nasdaq comp was up six-tenths of one percent. Even so, there was a bit of caution in front of NVIDIA's earnings due tomorrow after the closing bell. Here is Bloomberg's Carmen Reinekeeper.
There are a few key things investors are really looking at in this report. They want to know more about sort of the circular financing woes that NVIDIA has like, you know, given even more money sort of to this ecosystem.
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Chapters
7 chapters
1
What is the Stock Movers briefing and why should listeners tune in?
0:01–0:53
2
Who is Darline Graham and how did she secure the South Carolina Senate nomination?
0:53–2:08
3
What new tariffs is Canada imposing on U.S. steel, aluminum, and other goods?
2:08–3:24
4
What is the status of the Meta trial over teen‑addiction claims and what could the penalties be?
3:24–4:20
5
How is OpenAI’s new “Jalapeño” processor expected to lower AI token costs?
4:20–5:20
6
What are today’s key equity market moves and why is Nvidia’s earnings a focus?
5:20–6:06
7
What developments are unfolding at Paramount and what’s the news about Dolly Parton?
6:06–7:20
Speakers
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