we heard from mark mobius saying he would still be 18 fire. -- be a keen buyer.thank you, joining us live from sydney. we are taking the latest out of uber. sources saying it is planning to appoint david toshiba -- tr ujillo. find a newb is to ceo after his resignation. we have been following the developments from san francisco. let's tackle the ceo question. are there any names being thrown out? we have heard sheryl sandberg of facebook, but she is on everyone's list. >> i think it is way too early to know who will replace travis kalanick at number. -- at uber. he stepped down last week as a temporary leave of absence, but last night u.s. time he resigned amid pressure from top investors of uber. at uber, you maintain this very empty leadership bench. they are looking for a ceo, coo, -- thengineering, cfo list goes on. the company is in turmoil. they have seen a lot of turnover. coo -- obviously ceo and they are all very important, but ceo would be money the most important replacements. uber is noted in these stories that it is a mess internally, but the company

we will also be joined by mark mobius.his is bloomberg. ♪ francine: you are watching "bloomberg surveillance." we are expecting a little bit of data and just before that you can see pound erasing gains. first let's get straight to the bloomberg word news. here's nejra cehic. nejra: we are looking at live pictures in the u.k. london's fire commissioner says there have been a number of fatalities after a huge blaze engulfed a tower. the ambulance service has said that more than 50 people have been taken to hospitals. the fire started around 1:00 and time at grenfell tower was attended by 200 firefighters. u.k. prime minister theresa may is under pressure to abandon her plan for a hard brexit as she tries to stitch together a deal with northern islands democratic unionist party. yesterday, french president emmanuel macron and german finance minister wolfgang schaeuble both said it wasn't too late for britain to change its mind. in the u.s., the federal open market committee is expected to announce an interest rate increase la

mark mobius with templeton executivearkets, chairman. great pleasure to see you in person in new york, we appreciate it. let's check on the bloomberg first world news this afternoon with mark crumpton. mark: according to department of homeland security, there is evidence that russians targeted election systems and at least 21 states last year. a homeland security official will not identify the states. acting security director jeanette manfred says the state that are affected were aware of it -- are aware of it. meanwhile, former homeland security chief jeh johnson says it would have been "unforgivable" to not alert the american public head of the 2016 election that the russians had .acked democratic email systems testifying for the house intelligence committee today, johnson also said he was not happy that he learned about the hacking well after it occurred. for the next two years, brexit will dominate prime minister theresa may's agenda. the secondbeth outlines the priorities in her annual speech to lawmakers. this will trigger the europ

mark mobius joy this ahead to discuss.aking a nosedive in the last hour and seems to be climbing. stockpiles -- u.s. stockpiles are not enough to release concerns oversupply. and investors causing a shakeup at uber. the ceo stepped down from the company he helped found after a series of scandals. and the tale of two halves

matt: that was mark mobius, giving his reaction to china being included in the msci emerging market indexet the bloomberg first word news now. for that, we go to sebastian salek. sebastian? sebastian: the u.k. prime minister's first summit could mark the scene of the first big row over brexit negotiations. plan, it is due on monday. negotiations were seen by both sides to be generally constructed. in the u.s., donald trump has said he will propose legislation that would ban immigrants from receiving any welfare benefits for five years. he was addressing a rally in cedar rapids, iowa, campaigning on promises of a crackdown on signedented migrant, and an executive order that according to immigrant advocates, has led to increases in deportation across the country. top u.s. banking regulators are sprinting to ease the volcker rule stress test and other constraints on wall street. presidentl reserve plans to tell lawmakers today that they support revamping key structures. the trump administration issued a long list of proposals for rolling back post prices financial rules -- postcrisis financi

joining us now, mark mobius, executive chairman of the templeton emerging markets group joins us hereset welcome, mark, good morning to you. >> thank you >> as we think about the impact, is it going to be automatically a rise for chinese stocks? >> it already has been you've seen the chinese markets do pretty well but let's remember this is going to be gradual. you know, it's going to be a period of years. >> and it's contingent >> right it's contingent on a number of things the thing i worry about is getting it too big in other words now we're talking 26% of the msci index, you know, it could go up to 40%, which i think would be not good for emerging markets, investors, as we've got to have more diversification. this is something we have to watch carefully. >> so are you reallocating or changing how your portfolio is weighted in anticipation of these changes? whether it be increasing your exposure to china or decreasing your exposure to taiwan and south korea which should see their weightings drop as a result of the addition of china? >> right now, lodgest weight is china but we're o

it is what mark mobius described to me as a french revolution without the bloodshed.zil is growing up politically and it is looking deeply and carefully at what is going on behind the scenes, should these allegations prove to be founded. then, we are in a bad place. but michel temer will fight this and he has a lot of support in congress to survive. tom: you do so well linking nation to nation to commodities. forget about michel temer, rous seff and the rest. how much of the tension of brazil is tied to the desperation over the collapse of commodities? reporter: you have to look at the whole emerging-market horizon here, tom. emerging markets arein a good place right now, notwithstanding the low commodity prices prevailing around the world. brazil has come through that quite well. the economy is starting to grow again. it has been in one of the deepest recessions in living memory. and inflation is coming down. they are cutting interest rates. on the ground a lot of things are looking quite well in brazil. you have to say they are riding out this bear market in commodi