New products including the smart watch. Qualcomm puts its stock to work. Several banks upgrade the firm as shares push higher after hours. You know yesterday i told viewers i was going to tell them something. You reminded me before the show began but you love the new music. I do. I welcome the new music. Its uplifting and gets the energy going. We have a big show ahead of us. Wilfred you do a little dance before the music comes on. Its a fist pump. A little fist pump. Whatever it is its great. Well enough on that story. Lets get to our top story, Swiss Banking giant Credit Suisse has replaced the ceo. He cams over after brady steps down after 8 years in the helm. He had been under pressure recently due to a number of legal and regulatory issues and the banks share price which fell around 50 over his ten year. Lets get out to karen who is live with the latest on the story. Good morning, well, brady stepping down is no surprise at all. Thats been a very very long time in the making. Look, theres been plenty of criticism on top of regulators. They struck this 2. 8 billion settlement deal last year. That was on the tax evasion issue and there was plenty of criticism and calls for him to step down. I asked him then are you willing to go now . Because youve been at the helm of this company for seven years. He said no i have no plans to go. Its no secret that shareholders were disgruntled and disappointed with the share price performance. If you look at shares they have massively underperformed the banking sector. Down more than 50 . Ubs in that same period gained about 8 . Theres been a lot of focus on the return on equity target. That was 15 over the medium turn. Take a look at what it was back in 2014. It was only 4. 4 . Heres the thing, brady held on to it for much longer than some of his peers. It was pretty apparent that because in the change in regulatory and market environment that 15 return on equity target that was no longer feasible. Brady dougan also didnt deliver quite the turn around in the strategy many investors and shareholders had been hoping for. Regular what happened at ubs two or three years ago. They announced a major retrenchment to focus on the Wealth Management and Private Banking side of the business. Credit suisse did that too only to a certain extent. We got a piecemeal approach. Yes we did get a streamline of the rates business but it wasnt enough for investors. Lets talk about the successor. He lead prudential since 2009. Shares are up nearly 160 . Right now trading lower, however, this morning they hiked the dividend after reporting a strong set of 2014 earnings. Although investors dont like its get agoway to Credit Suisse. You alerted me to the asian ambitions which is a really interesting angle. Could that mean that Credit Suisse could be look east perhaps. We know that failed take over of aia has expanded the business in the region. Well and that focus toward the east toward asia that certainly wouldnt be new for Credit Suisse in the last previous couple of years. They have been heavily expanding their Private Banking business. Will we see that increased . It remains to be seen. We also know that Tidjane Thiam is a go getter. He likes to go after m and a. He has his work cut out for him on the regulatory front. We know that by the end of the year. The Swiss Federal Council will be announcing capital levels including the leverage ratio. Then he will have to revive the share price. I was talking about the share price before he will have to talk to regulators but hell have to like every other ceo on in industry. Hell have to navigate through a choppy and volatile market environment. But beyond all what investors want to see right now is a clear and very credible strategy over at credit swiss. Will there be a further retrenchment and deeper cuts at the Investment Bank for example, thats the big question out there. He has his work cut out for him there. Thank you very much. Lets take a look at how markets are trading here in europe. This is the second day that quantity native easing is in europe. Youre seeing a lot of reaction. The equity markets not so much. This is the second day of decline. The indexes ended yesterday. Were seeing the sell off continue in todays session same story for the cac 40 and ftse down. Its set to play out state side and this is on the back of deal actions. Im not sure im sorry. Im looking at the wall. Theyre right in front of me. Heres what were expecting at the u. S. Markets out of the open. Weak bs there and perhaps caution as the fed gets ready to hike rates. Little reaction for qe in the equity markets but take a look behind you, the bond markets. Absolutely. The moves has been a little confusing but the moves in the bond markets very been very clear. If we look at the u. S. Ten year its at 2. 2 . Its relatively higher to the rest of the developed world and is rising. If we look at european yields germany below. 3 . And italy 1. 24 . Those yields very low and, indeed falling. The euro dollar highlights that policy as well. Its down. 84 . And the move over the last 14 day. Just two weeks is over 5 for a major currency pair. Quantitative easing on the other in europe is making hah move. But the broadest index is also very strong. It is the u. S. Dollar breaking out once again because of the policy divergance. Factory prices were still below forecast paving the way for further stimulus measures. Lets get to sri and check in on asian markets today. Lets just pick upton data you were talking about. The caveat here is a lot of the numbers released in the beginning o of the year are going to be distorted because of the effects of the Chinese Lunar new year holiday. Take these numbers with a pinch of salt. Well only get a clean read around april. However the headline number Consumer Prices was better than expected 1. 4 and your rise in february but Producer Prices continue to be decline and that was symptomatic of the internal demand picture within china. This is an economy that still needs stimulus to consolidate growth at around 7 . I want to highlight the bangkok market. Hast the rank underperformer off by more than. 3 at the close. The banks are leading the index lower and theres talk that ahead of the policy meeting the expectation is that the rates will be kept on hold at around 2 . Elsewhere the mood is still jittery after that number from the u. S. And expectations that the fed could move sooner rather than later with its first rate hike. Currency appreciation also the order of the day. Apple in the news. It unveiled details of its much anticipated apple watch. It ended the session up. 4 . Just below where it traded before the spring forward event began yesterday. Josh has this from the event. Tim cook today unveiled the first new product category in five years. Apple watch. Its not just with you, its on you. And since what you wear is an expression of who you are, we designed apple watch to appeal to a variety of people with different tastes and different preferences. The watch is available in three collections. Apple watch sport beginning at 349. Apple watch collection available starting at 549. And apple watch edition, an 18 carat gold model with prices at 10,000. One potential problem for apple its competing in a crowded field of smart watches with rivals such as motorola and lg. Only 720,000 android wear devices shipped in 2013 according to research. But apple says its new watch isnt just a very accurate time piece. It also lets users send messages, read email and answer calls right from their wrist and its a fitness companion as well. Measuring calories and providing a snapshot of daily activity. It only works with an iphone 5 or higher. It could prove a big hit with apple loyalists. Theres 400 million iphone owners out there and if 10 of them buy a watch you get to huge numbers potentially. Apple is betting it can compete and succeed in this market. The stock is up nearly 70 in the past 12 months. For cnbc im josh lipton in san francisco. We want to hear from you here on Worldwide Exchange. What were you watching at the apple event yesterday . Perhaps it was the price point, the look or the battery life of the am watch or new apple tv and tie up with hbo. If you want to join the conversation here we want to hear from you. Get in touch. Email at worldwide at cnbc. Com or get in touch on twitter cnbcwx or our personal handles. We have been having a debate today. You think it will be the tv if it manages to evolve into something and i say the watch. People werent that impressed. I think the watch could be very big. You have to put it in perspective compared to the iphone. 74 Million Dollar iphone 6s in the Fourth Quarter. Most expectations for the watch is 10 to 20 million. It hasnt been that strong yet. So it will be a descent boost to the bottom line but nothing significant and that could be a game changer. And it could be big. Interesting. Well i also see remember when the ipod game out there was a lot of mp 3 players out there but it changed the game. Im going to be seeing if apple can do that. Are you going to get one . Yes, i just dont know if im getting the sport or the 17,000 one. Just kidding. Qualcomm is launching a stock buy back. The company says it continues to generate substantial operating cash flow. They showed Surprising Growth in the Fourth Quarter earnings with a Strong Performance from chips used by am but it lowered sales targets shifting fortunes from smartphone makers and shifer competition in china. Lots of Home Grown Companies there. Qualcomm rose by more than 3 at one point. Next up well be focussing on markets. Were joined by jp morgans global strategist. He still likes european equities over the u. S. Stay tuned here on Worldwide Exchange. Apple unveils details of its highly anticipated watch and rolls out a new mac book air and investors cheer a 15 billion stock buy back from qualcomm with several banks upgrading the stock. U. S. Markets were banded from fridays sell off in yesterdays trade. Another solid day for wall street but jp morgan is staying bullish on european equities over the u. S. Citing earnings trends and acceleration in activity. It reversed its u. S. Call to underweight. Since then it outperformed about 16 compared to 3 . Joining us is the Global Equity strategist on jp morgan. So you upgraded europe in november. Which worked out well for you. Are you maintaining that call at the moment . Yes, this is the main call we have for this year. The regional rotation and the big story is really that u. S. Market is getting tired. And is that as strong as ever . Back in november of course it was european equities they rallied strongly this year. Are you still as confident as in november. Back in november it was a little bit of consensus. Now i can say people are making the call. We think you should stay with it because in our view the positioning is yet to change in a big size and also we think theres going to be a second leg up in the market momentum. Mpis are going to move up more. Its extremely high. The differential is at 40 year peak and we think this is going to be diversing for a few years now. How does quantitative easing fit into all of that . We havent seen much reaction on the upside from the equity markets and some are are worried that weve seen all the effects before it actually happened because mario dragi is able to talk such a good game but will it deliver . If you look at the equity market move theyre up 25 to 30 since last october. Some of this is in the prize but in our view the next leg is really the economy, delivering the growth coming at 2 2. 5 over the next three quarters. Let me challenge you on that then a little bit because you think that euro zone eps revisions caused the buy into the european markets but in the medium term its going to be actual growth. The forecasts are riegzsing but they come from such a low level. Are you talking this year or do you think we have a longer bull run ahead of us . Its a relative story where for the u. S. If you think about what were the three big drivers over the last six years and it was fed was printing money like there was no tomorrow. The multiples for the equity tarkt are going up and that is basically finished because theyre widening now and the third was the profit margin expansion. Profit margins went from record low to record high and youre seeing the big change in the last few months. You have a number of u. S. Retailers raising wages. So the Profit Margins are peaking. In europe on the other hand the current rate for the growth is extremely low. Last november people were saying deflation, politics is a mess. Europe has never grown. It will never grow. Compared to that theres a lot of positive surprise in store and if you look at the u. S. Earnings today theyre 35 above all time high. Europe is still at lows. You just upgraded energy. Thats a bold call. Yeah people say dont you think the oil price can fall another few dollars from here. This is interesting because last may and june when the oil price was 110 people thought oil price could only stay high and now when its around 60 people think it can fall again. Its about risk reward. Earnings already collapsed. Energy sector lost 40 . Price to book is at a 40 year low right now and the yield is now double the market. So a lot is in the price. Over the next 3, 6, 9 months we think it will start to perform. Thank you for joining us. Thats the Global Equity strategist at jp morgan. Gm seals a deal to avoid a proxy fight but is it the same thing to come from multinational . We discuss Shareholder Activism coming up next. Less talk and more action. That was the message from the head of the euro group who said technical talks between greece and its creditors will start tomorrow. Athens has four months to prove it is serious about reforms to unlock its bailout cash. Lets get to julia live on the ground in brussels. And this seems like more of the same. I said yesterday this keeps it exciting for us but understandably you are tired of all of this back and forth. You have been covering every single word it seems like from all sides. It keeps me busy. I have seen this once or twice over the last three years, certainly. But president of the euro zone finance minister not mincing his words saying they wasted the last two weeks going back and forth. Just where the critical and technical discussions will take place for grease. Theyre going to begin tomorrow and theyre going to begin here in brussels. That looks hike a symbolic victory for the greeks but the finance minister was forced to admit they will head to athens and talk to officials there and just crunch through the numbers. This they cant escape from. We have been trying to come up with reforms we can implemented quickly. We were also talking about this yesterday they need to start implementing measures because the real signals coming from the likes of the ecb and other euro zone finance ministers was we can be flexible. We can give you cash but we have to tie them to the implementation of reforms. We have to wait now and we wait to see what happens as far as the technical discussions. What comes into light as far as the financing and the economics of the situation is concerned. Thats the real risk here perhaps but until then we wait for more reform announcements. And ive been here once or twice before. Thank you for that as ever. After this short break well be live with the lady on brady duog dougans departure. Well give you a look at how the futures are trade ago head of the open on wall street. Lower after yesterdays rebound on the back of share buy backs but today its going to be a down session at least at the beginning. Were back in two. Heroes charge explosion explosion explosion lead your heroes in the hit mobile game download heroes charge now welcome to Worldwide Exchange. You just missed wilfreds fist pump. Here are your headlines from around the world. Investors cheer change at the top of Credit Suisse. It replaces its longterm ceo. But prudential mourns the loss inspite of earnings this morning. They will announce a successor shortly. Only time will tell. Apple stock barely moves after tim cook unveils a smart watch. Analysts questioning howell it will sell. Qualcomm is the latest u. S. Firm to put its cash to work announcing a 15 billion stock buy back. Several upgrade the firm as shares push higher after hours. If you are just tuning in thank you for joining us here on the show. Heres markets ahead of the u. S. Open it was a bounce back day yesterday after fridays big sell off and now back the other way today. The s p expected to open down 11 points. The dow by about 91 points and the nasdaq down by about 15 points. That sentiment is also reflected in european markets as we look at things today despite the fact that quantitative easing started yesterday yesterday. We have seen markets sell off today. It was tightening Monetary Policy that hurt them on friday. Quite surprised that the converse policy in europe hasnt spurred markets higher. Were red across the board around. 3 and. 4 . Now the policy while its not really driving equity markets has been driving bond markets and currencies most clearly highlighted by the dollar which sold off significantly. Another percent today. 10744 and over the last 14 days just two weeks, the euro dollar has slid over 5 which is a massive move for a major currency pair. Highlighting that Monetary Policy that he we have got between the u. S. And europe. We want to bring our viewers up to date this morning. Swiss credit giant has poached thiame to run the bank. Dougan was under pressure due to a number of legal and regulatory issue and the banks share price which fell around 50 over his tenure today. Its higher on the news. Carolyn set out for zurich this morning to report on the story for us. Stepping into his place. What are you hearing about his ability . His skills that he will be bringing to Credit Suisse . He is certainly a go getter. He also had an eye on mna. It did fall through in 2010. Will there be m