tidjane thiam will replace brady dougan.reece is resuming talks with its creditors in brussels today, alongside technical talks in athens. they are trying to avoid running out of cash as soon as this month, as european finance ministers are putting pressure on the government to open up its books. francine: apple has unveiled their smart watch, the first new gadget in five years. it will cost $350. they have also released a macbook computer weighing just 900 grams. guy: the apple watch is now fully functioning. bloomberg got a hands-on look. >> the apple watch is finally here, again. this time, it actually works. ♪ unlike the demo models we saw six months ago, the watch is fully functioning. it comes in this 42 millimeter size and a smaller 35mm size. you give up a lot of screen real estate for that comfort. it can differentiate between a kick desk quick touch and a more deliberate cap. -- quick touch and a more deliberate tap. it can differentiate between a it can track health, fitness, and sleep. it does not have gps or cel

>> what might be brady dougan's legacy at credit suisse? you are only asking me this because manus is not around. he is a man who is so clearly inside brady dougan's head. he spent a remarkable career there in many ways. he was ultimately undone by litigation. he did have challenges with litigation towards the end. take a look at some of the fact from his bio. 1990, he joins. 2007, he becomes the first american to be the ceo of credit suisse. they plead guilty and have a $2.6 billion fine to helping americans evade tax credits. in 2015, they had to revise fourth-quarter profits. fourth-quarter profits for 2015 on litigation targets. the big question is, how much more litigation is to come and what is the price tag? >> thanks a lot. see you later. hans nichols in berlin today. >> now let's turn degrees and euro area finance ministers are piling pressure on the greek government to open its books. greek officials resumed talks in brussels tomorrow. that is as cash reserves begin to run low in athens. one official says their funding might last

brady dougan has steered it.has got him seems to be tarnished more with the secrecy accusations. another big mover. another insurance. one of the biggest gainers because profits are better than expected. fourth-quarter profit beat analysts'estimates -- analysts' estimates. jonathan: thank you. edp, largest electricity company. it plans a 10 year bond sale. cool back to talk to this about. i am joined by the edp ceo antonio mexia. great to have you on the show. it is great to have companies like yours. are you seeing it? corporate finance, conditions are so much better, is that benefiting edp? antonio mexia: clearly. in 2010, it was around 10%. now we're talking about 1.1%. it improved by -- basis points in one week. particularly because of rewriting but also because of other qe by the central bank. clearly, an opportunity for companies. we hadve a significant. jonathan: 10 year bonds sell planned for later this year. tell me something. what is later this year? is it better to give the way right here, right now? a

francine: brady dougan pasta parter from credit suisse may be good news -- brady dougan's departure fromedit suisse maybe good news. you can read more from that story at bloomberg.com. guy: a loophole in ireland's drug laws means a number of drugs are legal today. there is a motion and legislation to close the loophole, but it will not pass until tonight. until then, the processing of a range of substances, including ecstasy and some new psychoactive substances known as had soft drugs are going to be legal for a very limited. of time -- a very limited period of time. francine: what a loophole. why didn't anyone think of this? we don't suggest you go try it out. don't try anything we wouldn't. [laughter] you don't know how the police would react. guy: how big is that list? francine: i'm just saying. we can tweet about it. we will speak to mario monti in the next hour. guy: "blurred lines." $7 million to marvin gay's family for copyright infringements. we will have more on that program with caroline hyde. ♪ francine: welcome back. credit suisse continues to trade higher this morning. a new

brady dougan is out. tidjane thiam is in. he heads prudential u.k.. , what will be the goal of mr. thiam? he has been a caution, a measured pace in the years of dougan. what will be the new mandate of credit suisse? hans: maybe the more realistic on the return of equities. 15% had always been dougan's goal. they did not really reach that. maybe better capital standards. the question is -- will they continue to be an investment bank? that is a question that only mr. thiam can answer. when a new ceo comes in from basically different industry similar but different, do you have more power on the first day or six month into it? if you have the most power on the first day, and then you just bleated out, then you can expect big changes at the very beginning, or does he listen for a while and then make his move? it is really question of a theory of leadership, we always like to tom keene. tom: i look at this, hans and i look at zÜrich. mr. thiam comes from london. how will he be greeted ins are at where and credit suisse essentially dominate the economy? hans:

let's get more from bloomberg's interview with the man he's replacing, brady dougan. th manus cranny in zurich. they discussed the potential of global universal banking. >> i think the question about the concept of global universal banking is different from what you mentioned. i think for credit suisse, an important issue is, we have an important franchise but it is also fairly focused. it is the high-end of the private bank globally. it is a capital efficient high returning investment banking model. that is far from a universal banking model. i think there's going to the room for a lot of different models. there are going to be some universal banks that actually work and make their business model work. i think that's hard. it probably has gotten harder. there probably are going to be more firms that focus down into certain areas that they are really good at. that has always been our view. as a result of the crisis, you are going to get more and more focused more and more specialization. i think that's fine. we feel like we've got a great segment in terms of the privat

brady dougan was american too.'t have to speak german if you want to be the ceo of swiss bank but you have to have a credible strategy and convincing one. you have to revive the share price. he will have to revive the return on equity. both of these have been lagging the last couple of years. >> thank you very much. bring us back some chocolate when you get a chance. moving on. who is credit suisse's new ceo. head to cnbc.com to get a look at thiam. he's an arsenal fan so he won't just be celebrating his appointment but arsenal's glorious victory. >> wrour an arsenal fan? >> i am indeed. >> i think you know you're an arsenal fan if you spent about five minutes in this newsroom. >> exactly. >> general motors agreed to a $5 million buy back to appease harry j. wilson. he will no longer push for a seat on gm's board. mary bara said they would continue to invest in innovative technologies and world class vehicles. gm stock closing up 3% on the day. >> coming up today harry wilson will weigh in on his discussions with g

they are said to replace brady dougan with the chief of prudential we will bring you the latest in >> european finance chiefs pile the pressure on greece as the nation faces a cash crunch. we are live in brussels and athens with the details. >> apple goes for the gold with its range of tech savvy to luxury smart watches. will customers go for the price tag? bloomberg has been hands on with the gadget. we bring you our verdict. >> and germany's biggest power producer reports earnings just a week after it has sold its north sea business. will economic sanctions way on its bottom line? we bring you those numbers in just a moment. ♪ >> welcome to "countdown." i mark barton. >> and i am anna edwards.

the new chief executive of the swiss bank, replacing brady dougan comes from the british insurance industryhe

brady dougan is reportedly settling down.d credit suites through the financial crisis, which will reportedly be replaced. this is the first large bank in dead -- in decades to plead guilty to a criminal charge. an investor engaging in an insider trading. $17 million of stock. the company could face criminal charges. it came from the illegal harvesting of trees. share prices falling more than 57% over the last 12 months. don't say global warming if you work in florida. they ordered not to use those terms. according to the florida center for investigative reporting he is a skeptic of global warming. we will be right back. >> apple share its highly anticipated apple watch with us. apple gave us what the people wanted. brad stone joins us from the event. was this enough today? >> it was enough for me. here is the thing that puzzles me about it. what was the delta between the mast announcement and the re-announcement today. it wasn't like the old iphone. they we announced in the sense of launching. very little change between the i

anna: that was brady dougan the outgoing credit suisse ceo on the investment banking landscape in europebe replaced by prudential's ceo later this year. it could be good news for the rival, deutsche bank. let's get to nicolas in frankfurt. why is credit suisse and the change a good thing for deutsche bank. nichola>> they expect a refocus on wealth and asset management. that means revenue will go to competitors. credit suisse is not alone. as you saw in the share price reaction, you had rbs and barclays moving. all of that would theoretically, allow deutsche bank to really gain market share and revenue from competitors. anna: is the debt trading market a good one for deutsche bank to be in? are they under pressure to enact any kind of retrenchment? >> precisely. the patterns are retrenching and this means that this is a problematic business area for some investors. you look at the share price last year and the biggest decline are in global investor banks. some are unhappy with a focus on debt trading. deutsche bank does not have the same optionality. they do not have asset wealth manageme

tidjane thiam will replace brady dougan. shares are rising on that report. in other news global news a new report suggests that european stocks may surge 70% by the end of 2016. they offer investors a historic yield pick up over corporate and government bonds. the stocks haven't been this cheap for more than 50 years. when yields go negative that's what can happen. dallas fed president richard fisher is calling for the central bank to end it's monetary policy and press ahead with the interest rate hikes. he is steps down after ten years at the fed. >> it's been ten years? >> we know he'll probably be an nbc contributor? i would think. put in a call. really take his career to the next level. >> we should definitely do this. >> definitely. take his career to the next level. really make something of himself. among our stocks to watch this morning, qualcomm announcing it will buy back up to $15 billion of its shares and share it's quarterly dividend. shares of urban outfitters getting a boost. posting better than expected squartly results. same store sales risin

brady dougan went down 9.7 million. that was his pay from the annual review. no major exposure to libor and fx. h&m down from 370. why, margins. this is the view that they are under pressure. dsd march 15th, there was a suggestion of a deal by sabadell. today, we have it. they are doing a deal. 332.50 john. lloyd's should be at the bottom of your screen. going up to 800. there we go. i speak, it happens. 800 million pounds in the coffer as a result of this deal. jonathan: manus cranny has that friday feeling. the ftse 100 a little bit higher. in germany, the dax higher by 70 points, approaching that 12,000 level once again. in brussels, maybe they haven't got that friday feeling. leaders urge greece to find a compromise. the clock ticks on how much longer greece can keep it self-funded. tsipras meant with leaders as well as mario draghi in brussels last night. let's get the latest from caroline connan in brussels. this ellis in athens, what exactly was agreed yesterday, if anything at all? >> good morning, jon. it feels like it is february 20 all over again. b

a constant source of pain for brady dougan mostly because he was trying to make a go of it in the investment banking business. do we have any sense that the new ceo will split up the bank, the private bank from the investment bank? >> what we tried to get out of him was very unusual. prudential had earnings, so when we asked him about it, he said we will remain tightlipped because we need to speak to the people. he was too polite to tell us, basically. >> i have to listen as i come in. someone told me once that i have two ears and one mouth, and i try to use them in proportion. for the first month i'm going to listen. i have a lot to learn. >> that is quite telling of how he sees his role now. he said asked me what i'm actually in charge, because that will make a difference and i can tell you what i think. i have known him for about six years since he was the head of prudential. he actually tried to do a huge deal, and by a company that was worth 35 billion dollars. it was a failed attempt, but he said you have to take risks and take them within the first six months of the job because shareh

credits we's replacing longtime ceo brady dougan with tidjane thiam an insurance executive. spoke to him about that and here's what he said about taking the role. >> it is a really good brand. it means a lot to me because that is something you can work with. you have a lot of good people and a great staff. >> shifting to sports, a former line will be calling miami home. he signed with the dolphin for $114 million for six years. the nfl plus free agency time just got underway moments ago. and this just crossing on espn -- jimmy graham traded from the saints to the seahawks. lots more of this coming in the next goers. my next guest has played 13 seasons in the nfl. robert griffith played in the pro bowl in 2000 and now he is running for executive director of the nfl players association. great to have you. take me behind what is going on for players right now. what is it like behind closed doors? >> there's a lot of excitement and a lot of uncertainty. players have the opportunity to get to free agency have to understand that this is their time to cash in on all the hard work t