anshu jain and juergen fitschen handed in their resignations after shareholder discontent. john cryan has been named ceo of germany's largest lender. he will join the company on the first of july and share the role with jurgen fitch and -- with juergen fitschen. most recently in april, the bank paid u.s. authorities a fine of $2.5 billion to settle a rate reading case. let's check on the markets -- a rate rigging case. let's check on the markets. investors are reacting positively because john cryan's appointment is seen as a fresh start for the bank. let's get a check on how the turkish markets are reacting to these election results. the benchmark index, the bist 100, is trading, down 6.8%. the forex depository is cut for -- all major indices are in negative territory at this hour. to greece, were the government spokesperson has that political wrangling between the country and its creditors continued over the weekend. speaking friday before parliament, alexis tsipras called the latest european offer on the table absurd. those comments struck a nerve with the european commis

he will replace anshu jain and juergen fitschen. the bankshares are on the rise on this monday. me about the timing of this. why not gekko >? >> it was only a couple of weeks ago they announced the real organization. here they are a couple of later en, the co-ceosch resigned. they felt they did not have the support of the shareholders, or maybe even the supervisory board and felt they should step down. what they have done is picked an experienced anchor on the board who speaks german who is heading the audit committee and on the risk committee. what the risk in actuality will be is job cuts or cutting job expenses. that is the history of the individual who before he joined the board at deutsche bank had where they made a lots of reforms. i think we will see more of the same with deutsche bank. deutsche bank is a standardbearer of the german financial system. it expanded rapidly. the problem is, they did not increase the capital accordingly, and that is one of the tasks anshu jain and juergen fitschen had to grapple with and has not worked out as they would have liked. mark: bill

juergen will also be departing next may. between the time that mr.wn and next may, the firm will be run by another, a co-ceo. highly regarded in the industry. he is the former cfo at ubs. faces aits a bank that challenge of stricter regulatory oversight, a lack of share price , ms. profit targets, so on. he will need to come up with a credible strategy to get some return and turn things around for the bank. let's take a look at google's push into driverless cars. heading a bit of a robot. google is planning to disclose more information on a regular basis. the plan is to issue monthly reports on technology. include as will summary of the project activities, any incidents involving the cars. been 13 accidents, none of which the company says where the fault of the vehicle itself. it brings up a valid point of concern, who is ultimately responsible when these things happen on public streets. still obviously a work in progress. google admits it is still learning. rishaad: another story on bloomberg business is how airbus sales are threatened. program, lat

he will replace anshu jain and juergen fitschen. >> he is a traditional banker.y careful and considered man. he was asked to step in and tv cfo at ubs during the darkest time for them. a lot of technical stuff had to be dealt with. he did it bit by bit. i think that is what he is thinking about right now. stephanie: shares are surging in europe today. the last three years, the stock has the worst performance among its global peers. shareholders are happy that he is out the door. erik: steve will's is buying barclays. barclays had 180 financial advisors in america and they managed to $6 billion worth of assets. this deal is scheduled to be completed in november. global sales of mcdonald's are still falling. for now, they are dropping less than expected. that could be a sign of progress under the new ceo. sales dropped .3%. analysts were looking for a .9% decline. that is where they are this morning. let's talk about sears. they are a struggling retailer and they had a smaller loss in the first quarter. there is a strategy of selling off assets like lands end. they

juergen fitschen will stay until next may.yan, the former cfo and ups -- at ubs, will take over. german chancellor angela merkel x x g7 leaders to send russia a united signal on ukraine. merkel and president obama think beer yesterday at a resort in germany where the g7 is meeting. they believe the sanctions against russia will stay that will stay in place. south korea has reported its sixth death from mers. the country now has 87 cases of the disease. it has killed 400 people worldwide. there is no vaccine or cure. general electric is on the verge of a $12 billion deal. bloomberg news reports the -- that ge sold its lending arm to canada pension plan board. ge is trying to unload $200 billion worth of assets from its ge capital unit. american pharoah will get a two-month vacation before he races again. he is the first triple crown winner in 37 years. a day after his victory in the belmont stakes, he is expected to run only a few more races before retiring to stud duty. i do not know what that is, and i do not want to ask. bre

chief executive who was going to be the sole chief executive after co-ceo juergen steps down next tois john cryan. he is just, but he speaks german. he is a takeover specialist, he has served on the supervisory board of deutsche bank, but he has never led a unit of the bank. fromnalyst is with us preferred. good afternoon, thank you for eating with us. what do you expect to happen at deutsche bank now that it has a new chief executive? what details can you describe? aboutdo not know a lot this, but the expectation must now be that he will him and strategy that deutsche bank announced in april. back then, the disappointment was they did not make a lot of changes in the investment bank. the investment bank is seen to and theig, too heavy balance sheet, too much capital consumption. shakeup.d be a major olivia: what does he do to return the bank to a high level of profitability? give aht help the stock, little bit of a pop? company needs is a new strategy, not just the new ceo. what does he need to do? dirk: the strategy was announced in april. of the things that were announced in april

and juergen fitch will stay on board until early next year.raps the transition why did it come now? we only can speculate it was like a bad start to the year they had that whole expectation mounting up to the strategy. and the new strategy fails in convincing investors, analysts and even companies alike that this is a good strategy going forward about really electing details ahead of another slump in the share price. and then there were all these litigation charges coming. and also amounting concern what did they know about what happened back at the investment bank. he was head of the investment banking, juergen fitschen also emembarking on another convention in munich which he has to attend every week. so headlines were actually very bad when it came to the current management team. on top of that they were missing top targets, before the bank going forward. and essentially, they came to the conclusion that it's now time to actually say, listen we are planning on resigning. yesterday there was an extraordinary supervisory board meeting here in

under anshu jain and juergen fitschen, shares posted the lowest level among global peers. he is an m&a banker, which you are a number -- which you will remember, was bought by ubs. to be asked to step in the ceo of ubs during the darkest part of the crisis for them. a lot of technical stuff had to be done with, a lot of bad assets. thatd it bit by bit, and is what he is thinking about now at deutsche bank. scarlet: shares at deutsche bank are moving higher in response to the news. mark: steeple financial is buying barclays in the u.s.. the terms were not disclosed. roughly 180 advisers in the u.s. and manage $56 million in total asset clients as of may 31. the deal is expected to be completed in mid-november. trying to bee is more competitive in cloud computing services. they will build a high-speed network and upgrade how it was data centers together. they want to take cloud computing business away from amazon, google, and microsoft. mark: boeing is considering whether to build the there was ist body jetliner --narrow jetliner ever. they want the claim that lies larger an

anna: deutsche bank has named john cryan as a new ceo, with anshu jain stepping down, followed by juergenxt may. guy: shipments fell from a year earlier, and do you follow me? good. a slump in investment growth that is putting the growth target for the gushing -- four li ka-shing at risk. that is the bottom line. anna: let's bring in andrew sentence, with the monetary policy committee at the bank of england. good to see you on a monday morning. emerging markets bring to mind a growth story. you have been putting together your thoughts about where the world goes from now. what are the conclusions? we are still talking about emerging markets coming to the four -- fore? andrew: the powerhouse is asia. even though we are talking about the possibility of a bit of a slowdown in china, 7% wrote is still respectable -- 7% growth is still respectable. and there is a growing importance of those economies. china is expected to overtake the united states in terms of the overall size of its economy. there are other emerging markets that are doing well in the fair weather conditions, when commodity pri

>> i had one brother, and his name was hans juergen.e was one year and nine months older than i was. >> what was your father's occupation? jerry von halle: he was an architect, specializing in building department stores in hamburg. >> to tell me a little bit about your childhood while you are in hamburg? jerry von halle: it was a very pleasant time. my father was doing rather well as an architect. we lived in an upper middle-class neighborhood in hamburg. we went to public schools there and life was pretty nice. i understand what i was a baby, we are talking about 1923, it was at the end of world war i and the inflation, and understand from my mother, they bought a bottle of milk for one million marks. i do not remember that. we went to public school. we went to what they called a junior high school. and then hitler, well of course in 1930 and 31931 and 1932, hitler became more popular and things became more difficult for the jews although i'm still a young child and not quite aware of everything going on. in 1933, he came to power as c

tom: daniel yergin, stay with us, yes, we will speak with professor juergen about -- professor yergins up 11. it is another quiet morning. stay with us. "bloomberg surveillance." ♪ tom: we have breaking news. sometimes it is not what you do say, it is what you do not say. chancellor merkel speaking -- you would think it would be on greece. there is a little bit on greece, but much, much more on eastern european relations. she will travel to eastern europe here in a coming days. she takes a moment out to try to run a country away from greek crisis, and of course chancellor merkel has been more than busy with the back-and-forth with brussels and with athens as well. so much more there, vonnie. vonnie: it helps that we have daniel yergin on set with us because an hour, "market makers" with special covers on climate change -- coverage on climate change. matt: we're going to talk with a guy who is the ceo of a company whom electric buses. they have projects in seattle nashville, tallahassee -- the company called pro terra. they're looking to expand, and they are in the process of raising m

daniel juergen will join us. i am fascinated about iran, the oil.mentioning that china is the other story. over here, puerto rico is a huge story. if greece did not exist trust me, that would be our top story. francine: you are absolutely right. on iran, you need to keep -- we need to keep a close eye on it. the inspectors are not allowed to look at the facilities. it is going to be a great show. tom keene and "surveillance" in 25 minutes. today's headline on iran. talks in vienna are set to continue after midnight. u.s. and european diplomats are confident a group can be -- an agreement can be reached in days. elliott: talks brinkmanship, and a dramatic venue. that sums up the negotiations on an iran nuclear deal. as the deadline approaches, we may be in seeing the same. world powers say a deal can only happen once inspectors verify to ron -- tehran is keeping its word. they say that they will need wider and faster access to places of interest. some iranian leaders and politicians say military sites would be off-limits something world powers say wo

>> juergen fitschen. >> the guy is on trial for something.e's testifying -- >> he's been accused lying, perjury in a completely unrelated publishing lawsuit. again, why -- if this guy is supposed to be a savior and supposed to be the one that leads them and a great management team why the long -- >> that i don't know. i don't think it's that long. you think it's a full year? >> end of may. end of may. >> i thought it was this year. >> i do not know. end of may the other guy goes. >>> meantime a news alert, sears holding with a smaller than expected loss. it continues to make progress towards a formation. and of a reit. >>> joining us now old friend steve forbes chairman and editor in chief of "forbes." it's been a while. in talking to you in makeup just a couple of guys getting makeup on. last week you initially, a couple four years ago, said that was your guy initially, you said he's a much better candidate this time around. >> well he learned from that disastrous debate thing. he had major back surgery in 2012. his challenge is 500 other re