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Europe Top News and Analysis Switzerland

  • *Mondelez has $36 bln revenues, 100,000 employees. *Mondelez able to pass on commodity prices to consumers. ZURICH, Oct 2- Mondelez International Inc, which ranks as the world's biggest chocolate, candy and biscuit maker after being carved out of Kraft Foods Inc, is optimistic busy consumers will keep driving booming demand for snacks despite the downturn.

  • *UK gas system opens 30 mcm/d short. Britain's gas market opened over 30 million cubic metres undersupplied on Tuesday morning, according to data from National Grid. As a result of the undersupplied system and rising demand, gas prices for delivery the next day rose from 58.50 pence per therm on Monday morning to around 61 pence at 0830 GMT on Tuesday.

  • The rating incorporates our standard methodology for junior subordinated debt issues: We have rated the proposed bonds two notches below the long-term counterparty credit rating on the issuer, Swiss Life.

  • Lonza and U.S. biopharma company Celladon Corp announced an agreement, according to which Lonza will manufacture cGMP-grade MYDICAR enzymes for use in future clinical trials.

  • SYDNEY, October 02 Fitch Ratings says there will be no rating impact on Australian bank hybrid capital instruments from the Australian Prudential Regulation Authority's decision to remove the requirement for it to approve coupon payments that exceed after-tax earnings.

  • *Mondelez has $36 bln revenues, 100,000 employees. *Mondelez able to pass on commodity prices to consumers. ZURICH, Oct 2- Mondelez International Inc, which ranks as the world's biggest chocolate, candy and biscuit maker after being carved out of Kraft Foods Inc, is optimistic busy consumers will keep driving booming demand for snacks despite the downturn.

  • LONDON, Oct 1- A former colleague of accused UBS. But John Hughes, who worked closely with Adoboli on the Exchange Traded Funds desk in London, denied staging an elaborate "vanishing act" to ensure that only Adoboli would take the blame when losses mounted.

  • *New CEO, Robert Card, sees "a lot of potential growth areas". *La Presse reports SNC made "dubious payments" to win Montreal contract.

  • NEW YORK-- Shares of Transocean Ltd. rose Monday after a Brazilian judge said that the company will be allowed to continue to operate drilling rigs in most fields off the shores of Brazil.

  • *EU says Basel study lacks rigorous evidence. *Basel says Japan compliant overall with Basel III. *Basel says U.S. rules differ over securitisation.

  • *La Presse reports SNC made "dubious payments" to win Montreal contract.

  • Peer Steinbrueck has long been critical of a proposed treaty that would see Germany receive billions of euros from Switzerland in return for dropping a demand to get the names of suspected tax cheats.

  • *Austria, Britain deals can come into force in January. ZURICH, Oct 1- Deals with Germany, Britain and Austria to tax secret Swiss bank accounts appear unlikely to go to a referendum in Switzerland after opponents of the plan failed to submit enough signatures.

  • *Spot mixed with Germany up on low wind, France lower. FRANKFURT, Oct 1- Prices on Europe's power curve eased on Monday along with oil, coal, gas, and carbon as bearish supply-demand fundamentals dragged markets down. In wholesale power forwards, German annual baseload supply for 2013 shed 15 cents to 47.75 euros.

  • *EU says Basel study lacks rigorous evidence. *Basel says Japan compliant overall with Basel III. *Basel says U.S. rules differ over securitisation.

  • ZURICH, Oct 1- Politicians and commentators in Switzerland are worried that the nomination of Peer Steinbrueck- a critic of Swiss banking secrecy- to challenge Angela Merkel in an election next year may foil a tax deal with Germany and fan anti-Swiss sentiment.

  • *Norway expects total gas output at 334.2 mcm/day in Oct. LONDON, Oct 1- British prompt gas prices fell on Monday morning, shrugging off a temporary halt in flows from Norway through the Langeled pipeline as wider supply-demand fundamentals sapped trading sentiment.

  • "Switzerland can't stay unscathed by the global economic slowdown," said Sarasin currency strategist Ursina Kubli. " We think Switzerland will be spared a recession but the risks remain. " "A technical recession in Switzerland is being confirmed, I'd say we're shaping up for three negative quarters rather than two," said Julius Baer chief economist Janwillem Acket.

  • ZURICH, Oct 1- The outlook for Swiss industry darkened further in September, highlighting the risk of a recession due to sluggish growth in the euro zone and the United States and reinforcing the need for the central bank's cap on the strong franc. "Switzerland can't stay unscathed by the global economic slowdown," said Sarasin currency strategist Ursina Kubli. "

  • ZURICH, Oct 1- The outlook for Swiss industry darkened further in September, dragged down by sluggish economies in the euro zone and the United States that central bank actions have so far failed to revive. The index is compiled by the Swiss SVME purchasing managers' association and Credit Suisse, and a reading below 50 signals a contraction.