wpp, you know what it stands for? >> wire and plastic products. >> this is his baby.re you're going with that. >> it was sort of -- >> the brexit is where i'm going. >> you say yay or -- >> stay in. >> what are the chances now? >> latest poll says 38 staying in, 34 for going out. >> you're betting on hillary too. >> i say stay in and hillary. that's my double. >> stay in in brexit and hillary. >> i take you to dinner or you take me to adele's next concert. >> fair enough. >>> two more questions. the journalism question. >> go ahead. >> i don't know how you spend 70 million pounds. >> i keep it invested in the company. >> but that's -- you're making a lot of money. every article, every investor. >> isn't it deferred comp? >> i reinvest. i paid the tax and reinvested -- kept the balance in stock. >> that was one of my points to defend him. he is not just some ceo that they picked that goes into an established company. >> not a johnny come lately. we started with one million pounds, wire basket manufacturer. now 20 billion pounds, $30 billion. >> it's not like they pick

numbers from wpp, and a slew of other companies.are waiting for that, let's remind you what is happening with the bank of japan. i have a picture here that shows what they did to the yen. many in the markets where worried that the bank of japan did not take any action to asses using plan.tative first, let's get to the lloyds banking. the underlying pretax pocket is 2.1 billion pounds. that is ahead of the estimate. they are reporting a charge of 790 million pounds in relation to some redemption costs. they are also giving us details of their expenses and various other costs coming through. as i said before the break, the ceo is under pressure to intensify the company. they are still looking to sell the remaining 9.2% stake in lloyds, after the bank paid a bump of dividends in 2015, signaling the end of charges, which have been blighting the u.k. baking sector for a number of years. let's get the thoughts now on the singer credit analyst. berlin. us now from great to have you on the program this morning. let's talk about these lloyds

largest advertising company, wpp, says it is looking for candidates to replace founder and ceo martins 71 and has not and out to retire or step down. strongs it has a number of candidates. that is the bloomberg business flash. francine: thank you so much. here in the u k, there is such acrimony when it comes to ceo pays, and i have to say one of the most acrimonious relationships is between archrivals martin sorrell of wpp and his main competitor. it was fascinating, when we talked about succession, having him react to that -- his competitor is saying he will also step down. vonnie: it is intense, and martin sorrell just getting paid 70 million british pounds, equivalent to $102 million u.s., you can see why there might be onalso on the brexit score, the european side of things, he would rather that britain does not take extra advantages from being partnered th the european union than it should. yeah.ne: one of the things that has come out is that there is a lot of u.k. politicians and businessmen that want their country to stay within the e.u., and there are a lot of politicians with

to shareholders, wpp says it has a strong list of internal and external candidates should the time,. highest-paid ceo in the u.k.. checkout lines set to move a bit faster. mastercard and visa are seeking to spend up -- to speed up chip-based credit and debit card. customers chipping away at the patience of shoppers and retailers alike. it will require more than one million u.s. merchant locations to upgrade their chip enabled terminals. now, it is time to find out who is having the best day ever. , you can sayr goodbye to some wait time. uber is setting up a new system in new york, new jersey, dallas, and phoenix, which will charge customers an additional fee for making a driver -- for making a driver wait more than two minutes. cancellation periods will be shortened from five minutes to two minutes. if you happen to be fashionably late, you may want three think that. that doesn't for this edition of "bloomberg west." be sure to tune in next week. we will be speaking to the founder and ceo of the con academy about his vision to bring education into the digital age -- the khan academy

. >> boost in wpp's sales hit expectations.he advertising giant which counts ford and unilever as its clients said it remains on course for 3% growth this year. >> if you are running a legacy business, you are challenged by disrupters. you have zero based cost budgeters. you have activist investors. it is a difficult and uncertain climate. and things like brexit, we have to see what happens in june, just add to that unserntd and unwillingness. and you may have noticed towards the end of the release we show this picture of the s&p 500 on a quarterly basis since '09. and the simple fact is the s&p 500 is shrinking. >> sony posted something. operating profits almost quadrupled to 294 billion. >> shares of samsung fell in seoul despite sales of its latest hand set. the company says it expects to complete a share buyback program by the end of the fourth quarter and says it will aggressively seek to boost mobile profits in 2016. u.s. earnings season is if null swing. on average beat forecasts because of low expectations. daniel, that

million per employee and then other firms doing a million, i have panels pf people from google and wp wpp10 people on the panel. tom: 15 seconds -- seth masters, can you buy this crazy world? can you be long, scott galloway? there are some companies that are interesting investors for some reason -- for that reason. even though it is true that there is a lot of concentration of wealth because of this, we are still at record low unemployment levels in the united states because a lot of jobs are being created around other sections of the economy that are not winner take all. tom: that was brilliant. thank you so much for the quick update. he will continue with us on "bloomberg radio," on "surveillance" in a little bit. than upntrill is more to date on mr. trump, on the secretary. both looking happy last night. it was a presumed victory for both. they move on to pennsylvania and to further primaries and then to the convention. libby cantrill on the washington convention. we will do that next. good morning. ♪ tom: a more relaxed "bloomberg surveillance" today. euro-yen, i am watching as a litm

wpp is looking for candidates to replace founder and ceo. 71 -- he is 71 and has not announced plans down. they say they have a strong move of internal and external candidates and they say that the ceo is hate and equivalent -- is the top paid ceo in the u.k.. mastercard and these that are trying to work out the bugs in the chip-based card. they got complaints about slow time, so they came up with new cards to make the process lasted. it will increase the checkout by 10 seconds. spacex contract bid less than what they estimate it would cost to launch a satellite for the air force. they plan to cut costs by you reusing the first stage of the nine rocket. cash of the falcon nine rocket. soaring ason shares they posted first-quarter sales yesterday that the across-the-board. everything was up. for, we will turn to bloomberg intelligence charles allen, over in london, one specific thing that jumped out, we know about the cloud services and how that is doing well. i did not realize how important it was. about 10% of revenue comes but two thirds of the profitability was in that last quarte