we will discuss the timeline with martin feldstein of harvard university."surveillance." do not go anywhere. we will be right back. ♪ >> good morning, everyone. bloomberg "surveillance." i am tom keene. adam johnson and olivia sterns with us as well. mr. johnson has this morning company news. of l'oreal in shares trading on word that nestlÉ is looking for ways to cut the $32 billion stake in the cosmetic maker. both companies have discussed a possible change with the banks according to people familiar with the matter. nestlÉ holds a 29% stake. nissan, the least profitable carmaker, net income rose sharply last quarter but just a 3.3% of revenue. it is also a sharp turn for nissan of the company let's all put -- led all the companies in of thebility -- led all japanese automakers in profitability just a few years ago. inota will stop making cars australia and a few years. car companies have cited the run-up in the australian dollar and high cost of production in the reason for leaving australia. >> very good. i want to talk about a topic of the morning that