how sunder pichai will manage the company ahead. bloomberg. ♪ story, back to our top google founders larry page and sarah j brennan stepping down at alphabet. current google ceo sundar pichai will become the ceo of alphabet. for more, i want to bring in brent dill of jeffries who has a buy rating on the company. also with us, mark bergen who covers the company. how surprised are we buy this? mark: little surprised, but as surprised as we were four years ago when they announced alphabet. after the dust settled, it is silly. sunder pichai was effectively managing all of google. you could make the argument that he is on the board of alphabet. he has been involved with google 99% of the revenue where alphabet is a similar percentage of the workforce. in this sense, i've talked to a former googler today that says it gives structure a reality. taylor: what changed for you a few hours ago? >> nothing at all. sunder has done a great job. the stock is up you today, doing very well. it typically does well on odd years and it does not do well o

larry page and sergey brin step back with sunder pichai taking the reins.hery: we are counting down to gdp, trade and retail data from australia. it may offer a mixed picture of the economy. ahead of all those numbers, let's take a look at how australian markets are kicking up trading. what are you seeing? sophie: investors taking their cue from the pullback we saw on wall street. ozzie shares up a share of 1% after losing more than 2% on tuesday which was the worst session for the asx 200. we have seen some upside but little change for the s&p. aussie bonds tracking the overnight rally that we saw in treasuries. the aussie 10 year yield falling as much as 11 basis points ahead of australia's third-quarter gdp report. checking in on the offshore yuan. breaking through a support level for the currency, propping the 100 day moving average to fall to the lowest level in more than a month. volatility is going up. pulling up this chart, i want to show you this picture as we are seeing the offshore yuan two-week vol continuing to surge. that is the blue light on

sunder pichai is getting a hefty raise. he will receive $240 million over the next three years. hit all of the performance targets. he will receive a $2 million annual salary beginning in 2020. the justice department and sec are supporting the sprint merger. it should not be blocked. the combination put in if it consumers and not harm them. that is your latest bloomberg business flash. european markets are trading as we head to the european close. mainland europe is pretty positive. the dax up. european close is next. this is bloomberg. ♪ eÑ vonnie: as you can see, we are green across the screen. in germany and france, italy, spain, ireland, england has a little gray there. let's look at the individual indices. we have up to two points. the dax in germany is having a tough week with those carmakers. some the other companies, the utilities are dragging down the dax. it is making a grand rally today. lori l is one of the top performers. let's take a look at some of the individual movers. the pound is trading up. it is stronger after a volatile week. that is nothing to really write

sunder pichai takes over as chief executive. this is "bloomberg: survei

to hear particularly from larry page about what google was , he completely avoided them and let sunder pichai pick up the slack. this formalizes the situation we have had for a while now. is running the whole thing. the take away is that it could be the end of this whole alphabet spearmint, this warren style system of splitting up the future bets of google from the main revenue base and working that into different units. we are curious to see -- does he start to selloff inside google? does he lower the amount of funding that these ideas get? alix: thank you so much. investors are in a long list of economic data this week -- eyeing a long list of economic data this week. they will get manufacturing services tomorrow. we will end the week with the november jobs report. here in new york with more is michael mckee. what we need to pay the most attention to? michael: the story until friday was markets could be volatile because of trade deadlines. we were no longer going to be worried about -- until monday, with the ism manufacturing index not only failed to improve but went back down again. manufa

sunder pichai takes over as chief executive. this is "bloomberg: surveillance." yesterday, we saw a selloff on the back of the president trump press conference here in nato. let's get that board up for you to look at your markets. , they are treasuries extending gains. i am also looking at shares in asia. stocks in europe edging higher. i am looking at that vote in the u.s. house. and what that means for sentiment on your markets. coming up, a conversation with london's mayor sadiq khan. first, let's get straight to first word news in new york city. >> she simply did not have the resources to keep running. ,his, from kamala harris suspending her campaign for the democratic residential nomination. -- presidential nomination. she had a strong start but her campaign failed to catch on. opec plus sending mixed signals about output. iraq's oil minister reiterated his view cartels should deepen cuts. an earlier technical meeting ended without any discussion of steeper cutbacks. >> there are a number of key members, yes, they want to do that. addition toels in the 1.2.