stuart gulliver will stand down in two years as the bank replaces its top leadership. that is according to the sunday times. we know hsbc is revamping its board after coming under pressure from shareholders unhappy with its performance. in 2011 gulliver became the chairman -- he and douglas have announced job cuts, exited more the 80 businesses, reduced sprawling footprint from 71 countries and territories to 71 from 88. i thought i would give you a color affect and show you how hsbc has fared versus its peers since stuart gulliver became chief executive on january 1 2011. standard chartered is the worst 68%.rmer down by rbs is down 39%. roughly 31%.by but lloyd'sso 31% is the best performer with a small gain of 4%. i want to show you what's happening to record benckiser. boosted by durex condoms and throat lozenges. it maintained its four your outlook things to better than of consumer health products. up 1.8%. betty: i needed my sunglasses for the other chart. mark: i know, that was bright. five line barton. betty: matt miller came by the studio set right when you put

the sunday times says the ceo stuart gulliver plans to quit in two years. y will pick the next chairman. gulliver took over in 2011 and has scaled back the operation, cut nearly 90,000 jobs under pressure from unhappy shareholders. the stock has fallen about 16% this year. the deal to great britain's biggest telecom operator might be vetoed by the eu. the $14.5 billion bid might be blocked within weeks. regulators are said to be unconvinced. offer will create a competition. they want the companies to sell part of the infrastructure to a new rival. verizon is the leading suitor after many decided not to make an offer for the struggling web company. meanwhile, verizon and its aol unit are working on a bid that would include yahoo!'s stake in yahoo! japan. initial public offering in shanghai in what could be china's highest operation since 2010. the company behind alipa was said to be targeting a private right of fundraising. that is your bloomberg business flash. manus: thank you very much, yvonne. 's presidency isf hanging by a thread. vote is in favor of her

ceo stuart gulliver plans to quit in two years. the bank will first appoint a new chairman.ulliver took over in 2011 and operations,ack the cutting nearly 90,000 jobs under pressure from unhappy shareholders. the stock has fallen about 16% this year. telecoms biggest operator may be vetoed by the eu. the$14.5 billion bid for mobile business may be blocked within weeks. regulators are said to be unconvinced. want the company to sell part of their network infrastructure to a new rival. verizon is the leading bidder for yahoo!. a number of bidders decided not to make an offer for the struggling web company, according to the wall street journal. and the aolerizon unit are working on a bit. -- working on a bid. dilma rousseff's presidency is hanging by a thread. [shouting] jonathan: as you can hear, the operation broke into cheers. our reporter has been watching developments and joins us now. what next? is dilma doomed in terms of what the story looks like and how it is going to unfold? reporter: it does not look good for her. a could be as little as 15 days before she is at leas

the ceo stuart gulliver plans to quit in two years.are compiling a list of candidates to replace him. the bank will first appoint a new chairman to help take the next chief executive. the liver over in 2011. cut nearly 90,000 jobs. the stock has fallen to 60% this year. the second-biggest online moneyer is going to raise in a bond sale. the company declined to comment. japan's internet giants are providing a haven for odd investors fleeing from state owned enterprises. the ceo of china's website autozone has come to bid on insurance to buy 48% of the company. they submitted a preliminary at $31 andagreement $.50 a share in cash. the stake is held by an australian company. shares in new york rose by more than 6% on friday. china has accused international ratings agencies of bias after s&p and moody's lowered their sovereign outlook. the finance ministers spoke at a press briefing in washington after the weekend meeting of his g-20 counterparts. and central bankers. the downgrades happened last month. the china is reacting now. haidi: un

the ceo of hsbc, stuart gulliver, will step down in two years.started complying internaling applicants, they will consider outside applicants as well. the earthquakes that struck southern japan will likely cut into toyota's profit. it could lead to $270 million dropped in profits this quarter. that is the bloomberg business flash. francine: thank you so much. the doha talks yesterday did not lead to a freeze, like many were expecting. they produced nothing at all. let's go straight to elliott, our middle east editor. there was hope, but when you look at the clinical dynamics in the region between saudi arabia and iran, we not sure why there was hope in the first place. hopett: i suppose the predicated on the bills up to this meeting. we knew what the saudi position was the whole time. why would it come to a meeting if it was not prepared to be a little flexible? perhaps it means that the flexibility needed to reach an agreement was not there. if we don't have an agreement now, even if it was , there isagreement really little, if no chance, that t

wisdom.conventional he did not say stuart gulliver, if there were a brexit this is how many jobs we areo have to pull out of london. did not go as far as john mcfarlane that said london would be significantly worse off in the event of brexit. jon: is that because they have more skin in the game? erik: yes but jamie dimon styles himself a spokesman for the banking industry and has often a claim within the industry and i think -- the point about brexit is made on page 48 of 50. of how important this issue is to jpmorgan is -- and jamie dimon. he does run an american back. , he said heedged did not know whether it would make the european union stronger or weaker. brexit is one of the major concerns in the market, will it impact u.s. equities? paul: the unintended consequences, you never know, about this letter, the commitment to brazil. you see that big money is made in their markets and the tendency is for companies to pack up and go home when things look bad. we saw that in the asia financial crisis, russia, brazil in 2000. that is when the money is made. stick with it. erik: it is what