Trump Remembers Lindsey Graham, US-Iran Trade Strikes, More

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Bloomberg News Now 7 min 9 speakers 4 chapters transcribed 2 months ago

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What is the main topic discussed in this episode?

Amy Morris 0:00

A new chapter in global growth is being written and much of it is happening in Africa.

Unknown 0:05

Africans need to invest. There are deals to be done and business to be won.

Amy Morris 0:09

I'm Jennifer Zabasaja. Every week on the Next Africa podcast, we track capital flows and political shifts shaping the continent's future.

Unknown 0:17

The digitalization of Africa is going to power its growth. Creating the world of something like HIV is possible. Population growth is so enormous in Africa.

Monica Ricks 0:25

Listen to Next Africa on Apple, Spotify or wherever you get your podcasts. News when you want it with Bloomberg News Now. I'm Monica Ricks. Lindsey Graham, the South Carolina senator and foreign policy hawk who went from a Donald Trump skeptic to one of the president's strongest allies, has died at 71. His office says it was from a brief and sudden illness. But according to NBC, emergency personnel responded to a call for cardiac arrest at Graham's home in Washington last night. President Trump remembered him this morning on CNN.

Donald Trump 0:57

What a terrible loss it is. He's a great politician. He was a natural. There are very few of them. He was a natural politician, got along with everybody. When he didn't, he was very tough. You know, he was a tough cookie, too. But he got along with everybody.

Monica Ricks 1:12

Senate Majority Leader John Thune talked about Graham's long and dedicated service. And Republican Governor Henry McMaster of South Carolina said he's devastated, calling Graham the fiercest of fighters. He'll appoint a temporary replacement to fill Graham's Senate seat through January. Meantime, Republicans are scrambling for Graham's successor in South Carolina, a deeply conservative state that now risks throwing this Senate race into chaos less than four months before midterms. Bloomberg congressional reporter Eric Wasson.

Eric Wasson 1:41

I'm hearing from a source that Joe Wilson, the senior representative on the House side, is very much interested in running for this seat. It'll be a special primary and could be appointed by Governor McMaster in the coming days. You know, it's hard to see Who else from the delegation could really unite the group? Nancy Mace and Ralph Norman are two other Republicans that are prominent in the delegation. They ran against each other for governor.

How did President Trump publicly remember Senator Lindsey Graham after his death?

Monica Ricks 2:06

Reporter Eric Wasson on Bloomberg this weekend. Other political notables from South Carolina who could theoretically surface for a rare chance at a Senate seat include former four-term Representative Trey Gowdy. and former Governor Nikki Haley, who also served as U.S. Ambassador to the United Nations in President Trump's first term and ran against Trump for the 2024 GOP nomination. Democrats need a net gain of just four seats to win the Senate majority in November. For a third time in a week, U.S. forces struck Iran, prompting Tehran to retaliate and attack five Arab nations and declare the Strait of Hormuz closed till further notice. Bloomberg's Abir Abu-Omars covering the conflict from Dubai. Iran on its own saying that the Strait of Hormuz is shut and that no ships can make movements.

What details have emerged about Lindsey Graham's sudden illness and emergency response?

Monica Ricks 2:53

So we're back to, I don't want to say square one because we're not seeing a kinetic sort of warfare similar to what we've seen in March. But we're going back to a place that We didn't think we would be at after that MOU was signed just three and a half weeks ago. The U.S. says Hormuz is still open despite Iran's announcement. But even if it does shut down, Bloomberg analyst Mike McGlone tells us oil may not spike much higher.

Mike McGlone 3:18

The key thing that's happening in crude oil is we have a significant bifurcation between the actual price of crude oil, which I think is going to head lower, and the price of gasoline and diesel, what we call distillates at the pump. And that word we use for that is the crack spread, the spread between what actually is refined from crude and what the underlying foundation of crude is. And the crack spreads have reached the highest almost ever, but very similar to what we got in 2022, which marked a peak in price, and then everything rolled over back lower.

Monica Ricks 3:46

Bloomberg's Mike McGlone on Bloomberg this weekend.