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Speaker 1: News when you want it with Bloomberg News Now, I'm

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Speaker 1: Brian Curtis in Hong Kong. Thousands of car dealerships across

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Speaker 1: the United States were ground to a halt by a

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Speaker 1: cyber attack. The attack was directed at software provider CDK Global.

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Speaker 1: CDK works with nearly fifteen thousand dealerships across the nation

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Speaker 1: in supporting front and back offices. It also works with

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Speaker 1: dealer repair shops. The company says it shut down all systems,

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Speaker 1: executed extensive testing, and consulted with third party experts. Cdk's

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Speaker 1: core product, a dealer management system, and its digital retailing solutions,

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Speaker 1: have been restored. The company says it's testing all other

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Speaker 1: applications and will provide updates when possible. Well Boeing seven

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Speaker 1: thirty seven Max crash victims families are asking the Department

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Speaker 1: of Justice to find the company. Bloomberg's Ed Baxter has

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Speaker 1: the story.

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Speaker 2: In a letter to the DOJ. They're asking for nearly

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Speaker 2: twenty five billion dollars, saying the amount is legally justified

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Speaker 2: and clearly propriate. The letter comes a day after Boeing

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Speaker 2: CEO Dave Calhoun faced a grilling in front of the

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Speaker 2: Senate subcommittee accused of having a broken safety culture. The

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Speaker 2: letter says fourteen to twenty two billion of the total

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Speaker 2: amount could be suspended if Boeing were to devote those

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Speaker 2: funds to an independent corporate monitor and improvements to its

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Speaker 2: safety programs. The attorney representing the family said they deserve

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Speaker 2: some payout as well at Baxter Bloomberg Radio.

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Speaker 1: In other news, the co founder of open Ai, Ilja Sanskiver,

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Speaker 1: has announced a new AI research lab. We get more

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Speaker 1: from Bloomberg's than East Pellegrini.

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Speaker 3: Sutzkiver announced his departure from open Ai in mid May,

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Speaker 3: and he says he now has a new venture called

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Speaker 3: Safe Superintelligence. He tells Bloomberg in an exclusive interview he

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Speaker 3: aims to create a powerful AI system within a pure

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Speaker 3: research organization, one with no near term intention of selling

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Speaker 3: AI products or services. In other words, he's attempting to

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Speaker 3: continue his work without many of the distractions rivals, including

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Speaker 3: Open Ada, AI Google. An anthropic face, he says his

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Speaker 3: first effort will be fully insulated from the outside pressure

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Speaker 3: of having to deal with a large and complicated product

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Speaker 3: and having to be stuck in a competitive rat race.

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Speaker 3: Suskevern declined the name safe Superintelligence's financial backers, or disclose

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Speaker 3: how much he's raised Denise Pelgrity Bloomberg Radio.

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Speaker 1: Chinese car makers have urged Beijing to adopt what they

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Speaker 1: call the most severe measures on European cars. Bloomberg's Joanne

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Speaker 1: Wong has more on the story.

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Speaker 4: Those severe measures would include attacks of twenty five percent

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Speaker 4: on EU made cars with large engines. Chinese state media

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Speaker 4: CCTV says its in response to Brussels tariffs on electric

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Speaker 4: vehicles made in China. The companies made the demand in

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Speaker 4: a closed store meeting with Beijing's Ministry of Commerce. The

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Speaker 4: meeting included representatives from four Chinese and six European automakers.

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Speaker 4: Others from ministry and research bodies were there as well.

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Speaker 4: One Chinese representative accused the EU of using the probe

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Speaker 4: to steal business secrets from Chinese e makers in Hong Kong,

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Speaker 4: joined Wang Bloomberg Radio.

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Speaker 1: Meantime, the People's Bank of China has given new hints

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Speaker 1: it might change the way it manages money. Bloomberg's David

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Speaker 1: and Glace has more from Hong Kong.

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Speaker 5: PBOC Governor Pangomhung has given the clearest signal yet the

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Speaker 5: Central Bank will soon start trading government bonds in the

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Speaker 5: secondary market. That has the potential to rewire how the

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Speaker 5: central Bank injects money into the economy. Pan also hinted

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Speaker 5: at reforms on interest rates. The Central Bank is considering

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Speaker 5: using just a single short term rate to guide markets.

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Speaker 5: That would reduce the importance of the current one year

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Speaker 5: policy rate, known as the medium turned lending facility. Now,

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Speaker 5: many economists have argued China would not embark on quantitative

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Speaker 5: easing in the short term as interest rates are still

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Speaker 5: well above zero. Others say quilly or not, the potential

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Speaker 5: participation of the PBOC is likely to improve market liquidity

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Speaker 5: in Hong Kong. I'm David Ingliss Bloomberg Radio.

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Speaker 1: The US government keeps racking up expenses Bloombrigg's Nancy lions

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Speaker 1: with the figures.

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Speaker 6: The Congressional Budget Office is increasing its estimate for this

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Speaker 6: year's budget deficit by twenty seven percent to almost two

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Speaker 6: trillion dollars. The new estimate, in part reflects additional spending

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Speaker 6: like aid to Ukraine in the administration's student loan relief measures.

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Speaker 6: The Fed is now expected to hold off unlowering interest

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Speaker 6: rates until later this year or early next, which also

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Speaker 6: has an impact in Washington. Nancy lyons Bloomberg Radio.

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Speaker 1: That's news when you want it. With Bloomberg News Now,

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Speaker 1: I'm Brian Curtis. This is Bloomberg