Dollar at 12-year peak versus euro, emerging markets spooked (Reuters) CIA sought to hack Apple iPhones from earliest days (Reuters) Draghi Urged Greece to Allow Troika Back Before It’s Late (BBG) Brent crude dips below $58 on strong dollar and supply (Reuters) Credit Suisse replaces CEO Dougan with Prudential's Thiam (Reuters) More "distressed" energy M&A: Verisk buys Wood Mackenzie for £1.85bn (FT) Prepare for a surge in defaults: Investors Are Buying Stocks and Bonds From Energy Producers Amid Oil Price Drop (WSJ) Private equity executive ordered to pay £72m to ex-wife (FT) Democratic donors unfazed by Hillary Clinton's use of private email (Reuters) Expensive Hepatitis C Medications Drive Prescription-Drug Spending (WSJ) 'ISIS Hackers' Almost Certainly Not ISIS Hackers (NBC) 1MDB Makes Payment on Dollar Bonds, Price Slumps to Record Low (BBG) Republican letter takes aim at Iran talks (FT) Denmark Lifts Euro-Peg ‘Tsunami Warning’ as Speculators Defeated (BBG) Hermès Designer Steps Out of the Shadows (WSJ) BlackRock Plays China, India Growth Story Through Corporate Debt (BBG) Overnight Media Digest WSJ * Credit Suisse Group is poised to replace long-serving Chief Executive Brady Dougan with Tidjane Thiam, the current CEO of Prudential Plc. (http://nyti.ms/1KO6iwr) * The battle between Congress and the White House over U.S.-led nuclear talks with Iran got nastier Monday as Obama chastised Senate Republicans who wrote directly to Iran's leaders to criticize U.S.-led nuclear talks. (http://on.wsj.com/1F5CWoF) * General Motors Co's decision to spend $5 billion on share repurchases after pressure from hedge funds shows the tensions between managers and prominent investors over the best use of corporations' rising cash balances. (http://on.wsj.com/1CYhm5Z) * Simon Property Group Inc, the largest mall owner in the United States, launched a $16 billion unsolicited bid for one of its biggest rivals, Macerich Co, as it seeks to gain scale amid an oversupply of retail space and changing habits of U.S. shoppers. (http://on.wsj.com/1NCOl33) * The stress-test process is being integrated into the U.S. Fed's year-round supervision of banks, rather than being squeezed into a monthslong sprint each year, Fed officials say. (http://on.wsj.com/197AzWz) * Apple Inc showed off its much-anticipated smartwatch at an event Monday, highlighting the product's look and features, as the tech giant searches for its new growth driver. (http://on.wsj.com/1BrmDzK) * Hermes International SA's new designer, Nadège Vanhee-Cybulski, made her debut at Paris fashion week. Focusing on clothes instead of cultivating her personality, she is very much in line with the upper-crust label. (http://on.wsj.com/1C3r6fr) * Alibaba Group Holding Ltd is shuffling the top ranks at its Chinese shopping platforms amid challenges the e-commerce giant's marketplaces have faced with counterfeit goods and other problems. (http://on.wsj.com/1HrCeRS) FT Prudential PLC Chief Tidjane Thiam is slated to replace Credit Suisse Group AG's Brady Dougan as Chief Executive, according to people familiar with the matter. U.S. regulators are insisting several Commerzbank AG executives resign as part of a $1.45 billion settlement for anti-money laundering breaches and sanctions laws. British Labour Party's Public Accounts Committee chair Margaret Hodge urged Rona Fairhead to quit as BBC Trust chairwoman, accusing her of being either "incredibly naive or totally incompetent" in her role at HSBC Holdings Plc over Swiss tax evasion scandal. Barclays Plc is assigning some of its post-trade processing and regulatory reporting obligations to SunGard, in a deal that the IT service provider said the bank would benefit from about 20 percent of cost cuts. NYT * Facing Western sanctions and low oil prices, Russian companies are lining up for subsidies from the government. But the demand for bailouts is quickly outstripping the supply of money, raising the prospect of an economic crisis (http://nyti.ms/18wSgNV) * Brady Dougan is preparing to step down as chief executive of Credit Suisse Group, people briefed on the matter said on Monday, ending his tenure as one of the longest-serving chieftains of a global banking powerhouse. (http://nyti.ms/1MndTxs) * HBO has linked with Apple Inc for the start of its much-anticipated Internet streaming service. Called "HBO Now," the service does not require a traditional TV subscription and will be available exclusively on Apple devices when it makes its debut in early April, the companies announced on Monday. (http://nyti.ms/1GyxVqm) * Eric Schneiderman, the New York State attorney general, announced Monday that his office had reached a sweeping settlement with credit reporting agencies to overhaul their approach to fixing errors and their treatment of medical debts on consumers' reports. (http://nyti.ms/1KOIVTv) Canada THE GLOBE AND MAIL ** The International Monetary Fund is raising red flags about Canada's housing market, warning that moves by Ottawa in recent years to tighten mortgage lending standards and boost oversight of the country's financial system haven't gone far enough. (http://bit.ly/1NDxg93) ** Ontario Premier Kathleen Wynne is crafting a plan to sell shares in Hydro One Inc, a high-stakes privatization manoeuvre that goes beyond anything her government has previously considered in its bid to raise billions of dollars to build new infrastructure. (http://bit.ly/1EwYuLS) ** From copper miners to the oil patch, plunging commodity prices are taking a toll on employment in Western Canada, a trend employers see persisting for at least another three months. While most Canadian companies expect relatively steady hiring in the next quarter, miners in Western Canada are more likely to cut staff, the latest Manpower Inc employment survey shows. (http://bit.ly/187oQGi) NATIONAL POST ** The world's biggest bond manager, Pacific Investment Management Co said on Monday it is selling off Canadian government bonds, in favour of provincial bonds, amid growing frustration with the Bank of Canada's unpredictable interest rate policies. (http://bit.ly/1MnWuVx) ** Calling the Ontario government's campaign against sexual violence "sexist," a men's issues group unveiled a new billboard paid for by the Canadian Association for Equality in downtown Toronto on Monday in an attempt to draw attention to male victims of domestic abuse. (http://bit.ly/1C1hcJK) ** The federal government has carried through on its promise to appeal a court ruling that invalidated a policy forbidding women from covering their faces when being sworn in as citizens. In a notice filed on Monday with the Federal Court of Appeal, lawyers for the minister of citizenship and immigration said a federal judge committed several errors in fact and law, including "misapprehending, misconstruing or failing to consider the evidence before the court." (http://bit.ly/1xa8pPP) Hong Kong SOUTH CHINA MORNING POST -- A high-ranking Macau prison officer accused of taking lavish bribes from a inmate in return for special protection behind bars has become the latest victim of Beijing's campaign to clean up the city. The chief prison officer was showered with gifts for allegedly "turning a blind eye" to prisoner's "illegal acts", according to Macau's Commission Against Corruption. (bit.ly/1F24yuU) -- Guangdong Free Trade Zone will be launched on March 18, soon after the National People's Congress, a government backed trade association and a source close to the matter said. Guangdong Cross-Border E-Commerce Association said on its official microblog that Communist Party head of Guangdong Hu Chunhua and the province's governor Zhu Xiaodan would attend the unveiling ceremony. (bit.ly/1wUQ9zk) -- Ping An Bank, a unit of the mainland's insurance giant Ping An Insurance (Group), is looking to set up a subsidiary in Hong Kong by hiring up to 60 people, as part of the group's expansion plan to become China's HSBC. (bit.ly/196YVzN) THE STANDARD -- China's commerce minister has hit out at parallel traders for taking advantage of cheaper goods in Hong Kong for resale in the mainland. Zhang Mao, who heads the State Administration of Industry and Commerce, said parallel trading has adverse effects on Hong Kong people and mainland retailers, and departments will be cooperating to resolve the situation. (bit.ly/1BkOO4t) -- Cathay Pacific Airways and the International Air Transport Association both agree that the "users-pay" principle is the way to go on funding construction of the third runway at the Hong Kong airport - but oppose any advance charges until the project is completed. (bit.ly/1BkQ9sh) HONG KONG ECONOMIC JOURNAL -- Chinese People's Political Consultative Conference Standing Committee member Henry Tang proposed loosening restrictions on cross-border yuan remittances at China's annual parliament meeting, allowing Hong Kong residents to remit yuan through their own accounts in the mainland as well as accounts of the others. -- Mobile online games developer ICC Inc said it proposed to transfer listing of its shares to the main board in Hong Kong from the Growth Enterprise Market in a bid to enhance its profile and public recognition and to increase the trading liquidity of the shares. Britain The Times QUIT OR BE SACKED, HODGE TELLS BBC HEAD The head of the BBC's governing body, Rona Fairhead, faced calls to quit after she was accused of being "either incredibly naive or totally incompetent" when she was a non-executive director of HSBC Holdings Plc.(http://thetim.es/1Bqtb1G) PUBLIC SECTOR HIRING SPREE BEFORE ELECTION The public sector is hiring at the highest levels in four years as the government strengthens frontline services before May's general election. Strong jobs growth in health and education is planned over the next few months in a "pre-election hiring spike", according to ManpowerGroup Inc, the recruitment company.(http://thetim.es/1BqtI3A) The Guardian HSBC CHIEF ADMITS HIS TAX AFFAIRS 'FURTHER DAMAGED BANK'S REPUTATION' HSBC Holdings Plc's chief executive, Stuart Gulliver, conceded in front of MPs that his personal tax and banking affairs are further damaging the reputation of the scandal-hit bank.(http://bit.ly/1Bquqh8) BARCLAYS BOARD MEMBER TOLD TO RESIGN BY UK'S LARGEST INVESTOR BODY The call for the immediate departure of Sir John Sunderland, who is chairman of Barclays PLC's remuneration committee, is being made by the Local Authority Pension Fund Forum (LAPFF) - which unites 64 public sector pension funds with combined assets of 150 billion pounds ($226.61 billion).(http://bit.ly/1BqvAJM) The Telegraph APPLE CONFIRMS RELEASE DATE AND PRICES FOR APPLE WATCH Apple Inc's long-awaited Watch Sport, Watch and Watch Edition will go on sale in the UK on April 24, Apple has announced, and will be available for pre-order from April 10, with prices starting from 299 pounds ($452), 479 pounds ($724) and 8,000 pounds ($12,086) respectively. (http://bit.ly/1BqwrtV) DEFIANT GREECE AT DAGGERS DRAWN WITH EU CREDITORS Relations between Greece and Europe's creditors are dangerously close to a breaking point. Both sides have issued ultimatums, each insisting angrily on fixed positions and lashing out at each other with barely concealed animosity.(http://bit.ly/1HqnTVX) Sky News U.S. CHIEF WELLS IS THE NEW 'MAN FROM THE PRU' Mike Wells, who is president and CEO of Jackson National Life Insurance, has been chosen by the board of Prudential PLC to replace Tidjane Thiam later this year.(http://bit.ly/1BqA7M1) HSBC TAX SCANDAL: ARGENTINA WANTS $3.5 BLN Argentina has stepped up its tax evasion row with HSBC Holdings Plc by demanding it repatriate $3.5 billion (2.32 billion pounds) of cash allegedly moved to its Swiss private bank.(http://bit.ly/1HqkXIS) The Independent LLOYDS SHARE SALE EARNS TREASURY £500M The Treasury has sold off taxpayer-owned shares in Lloyds Banking Group Plc during the past fortnight to earn 500 million pounds ($755.35 million). Lloyds said the Treasury's holding is now just below 23 percent Fly On The Wall Pre-Market Buzz ECONOMIC REPORTS Domestic economic reports scheduled for today include:NFIB small business optimism index for February at 9:00--consensus 98.9JOLTS job openings for January at 10:00--consensus 5.05MWholesale trade inventories for January at 10:00--consensus down 0.1% ANALYST RESEARCH Upgrades ARRIS (ARRS) upgraded to Overweight from Equal Weight at BarclaysHP (HPQ) upgraded to Buy from Neutral at UBSHSBC (HSBC) upgraded to Buy from Neutral at GoldmanIxia (XXIA) upgraded to Buy from Hold at WunderlichManpower (MAN) upgraded to Outperform from Neutral at MacquarieNVIDIA (NVDA) upgraded to Buy from Neutral at BofA/MerrillOrbital ATK (OA) upgraded to Overweight from Equal Weight at BarclaysSpringleaf (LEAF) upgraded to Buy from Neutral at BofA/MerrillSupervalu (SVU) upgraded to Buy from Hold at Deutsche BankUrban Outfitters (URBN) upgraded to Buy from Neutral at Janney CapitalXO Group (XOXO) upgraded to Buy from Hold at Stifel Downgrades AcelRx (ACRX) downgraded to Hold from Buy at JefferiesBitauto (BITA) downgraded to Hold from Buy at Brean CapitalElectronic Arts (EA) downgraded to Hold from Buy at NeedhamIntrexon (XON) downgraded to Neutral from Buy at MizuhoLincoln Electric (LECO) downgraded to Hold from Buy at BB&TMGM China (MCHVF) downgraded to Sell from Hold at Deutsche BankMelco Crown (MPEL) downgraded to Sell from Buy at Deutsche BankSands China (SCHYY) downgraded to Sell from Hold at Deutsche BankWynn Macau (WYNMF) downgraded to Sell from Hold at Deutsche BankZiopharm (ZIOP) downgraded to Neutral from Buy at Mizuho Initiations AECOM (ACM) initiated with an Outperform at Credit SuisseAffymetrix (AFFX) initiated with a Neutral at UBSAgilent (A) initiated with a Neutral at UBSArcam (AMAVF) initiated with a Neutral at Piper JaffrayAvalanche Biotechnologies (AAVL) initiated with a Buy at SunTrustBazaarvoice (BV) initiated with an Outperform at NorthlandBecton Dickinson (BDX) initiated with a Neutral at UBSBruker (BRKR) initiated with a Neutral at UBSFoundation Medicine (FMI) initiated with a Neutral at UBSGenomic Health (GHDX) initiated with a Neutral at UBSHologic (HOLX) initiated with a Buy at UBSIllumina (ILMN) initiated with a Buy at UBSMGIC Investment (MTG) initiated with a Buy at BTIGMettler-Toledo (MTD) initiated with a Buy at UBSMyriad Genetics (MYGN) initiated with a Sell at UBSNevro (NVRO) initiated with a Buy at CRT CapitalNexvet Biopharma (NVET) initiated with an Outperform at CowenPall Corp. (PLL) initiated with a Neutral at UBSPerkinElmer (PKI) initiated with a Buy at UBSQEP Resources (QEP) initiated with a Neutral at SunTrustQIAGEN (QGEN) initiated with a Buy at UBSRadian Group (RDN) initiated with a Buy at BTIGStonegate Bank (SGBK) initiated with a Buy at WunderlichSynaptics (SYNA) initiated with an Outperform at NorthlandThermo Fisher (TMO) initiated with a Buy at UBSVWR (VWR) initiated with a Neutral at UBSWaters (WAT) initiated with a Neutral at UBS COMPANY NEWS Credit Suisse (CS) confirmed CEO Brady Dougan to step down from position, Prudential (PUK) CEO Tidjane Thiam has been appointed as the company's new CEOQualcomm (QCOM) increased quarterly dividend 14% to 48c per share and the board authorized the company to repurchase up to $15B of its common stockFacebook's (FB) FriendFeed to shut down on April 9Verisk Analytics (VRSK) to acquire Wood Mackenzie for $2.8BWestern Alliance (WAL) to acquire Bridge Capital (BBNK) for $425MSkyworks (SWKS) to replace PetSmart (PETM) in S&P 500 as of March 11 close EARNINGS Companies that beat consensus earnings expectations last night and today include:CytRx (CYTR), Atento (ATTO), Surgical Care Affiliates (SCAI), Landauer (LDR), Qihoo 360 (QIHU), Atlas Financial (AFH), Global Brass and Copper (BRSS), XO Group (XOXO), Alexza Pharmaceuticals (ALXA), Millennial Media (MM), Primo Water (PRMW), ImmunoCellular (IMUC), Casey's General Stores (CASY), Urban Outfitters (URBN) Companies that missed consensus earnings expectations include:U.S. Auto Parts (PRTS), Mindray Medical (MR), Titan reports preliminary Q4 ex-items EPS (23c), Limoneira (LMNR), Westport (WPRT), United Natural Foods (UNFI), AcelRx (ACRX), Regional Management (RM) Companies that matched consensus earnings expectations include:iKang Healthcare (KANG), Korn/Ferry (KFY) AECOM (ACM) backs FY15 adjusted EPS $2.75-$3.35, consensus $2.88Qihoo 360 (QIHU) sees Q1 revenue $375M-$380M, consensus $374.03MLimoneira (LMNR) sees FY15 EPS 42c-46c, consensus 45cUnited Natural Foods (UNFI) now sees FY15 adjusted EPS $2.90-$2.99, consensus $2.97Korn/Ferry (KFY) sees Q4 EPS 44c-50c, consensus 47c NEWSPAPERS/WEBSITES Safety agency to announce course of action for Lumber Liquidators (LL), NY Post reportsTwitter (TWTR) acquires live-video firm Periscope, Re/Code reportsGuy Wollaert to leave Coca-Cola (KO) at end of month, WSJ reportsAlibaba (BABA) names Jeff Zhang as head of marketplace websites, Reuters reportsAirbus (EADSY) considering new engines for A380 jet, WSJ reports SYNDICATE American Assets Trust (AAT) enters $8.1M common stock purchase agreementBioScrip (BIOS) files rights for up to 200,000 units at $100 per unitCallon Petroleum (CPE) files to sell 9M shares of common stockCalumet Specialty Products (CLMT) files to sell 6M common unitsCarnival (CCL) files automatic mixed securities shelfCommunityOne files to sell 12.39M shares of common stock for holdersContraVir Pharmaceuticals (CTRV) files $200M mixed securities shelfEZCORP (EZPW) files $250M mixed securities shelfEnbridge Energy (EEP) files to sell 8M Class A common units for limited partnersImperva (IMPV) files to sell 3M shares of common stockMain Street (MAIN) announces plan to offer shares of common stockPS Business Parks (PSB) files automatic mixed securities shelfPinnacle Foods (PF) files to sell 14.3M shares of common stock for holdersPortola Pharmaceuticals (PTLA) files to sell $100M of common stockRosetta Resources (ROSE) files to sell 12M shares of common stockTetraphase (TTPH) announces offering of 3.5M shares of common stockUIL Holdings (UIL) files automatic mixed securities shelfWest Corp. (WSTC) files to sell 11M shares of common stockZayo Group (ZAYO) commences follow-on offering of 16M sharesZendesk (ZEN) files to sell $200M of common stock