francine: thank you, david herro and a london. chief david merritt.th david herro and talk about companies. in the meantime, if you are on twitter, follow a tick tock by bloomberg. bloomberg'sd by analysts and journalists. it is a fun watch and kicked off yesterday. it is new. this is bloomberg. ♪ ♪ francine: this is bloomberg surveillance. we had breaking news. this is a south african furniture retailer that has been engulfed in a scandal. this is after the shares crashed after the company reported accounting irregularities that stretch back to 2016. steinhoff is meeting with creditors, trying to figure out a solution. cost lost $12 billion in terms of market cap after that date. they are now naming a new ceo. he is the new acting ceo. i imagine this is part of the deal because they are talking with partners to restructure and figure out a solution. reallyr, this was glad under the billionaire chairman, so it implicates one of the risks just south african -- richest south african members of the business community. africa, the south new leader is putt