Economy

US industrial output gains in October despite drop in autos

Auto production and mining slowed sharply in October but not by enough to halt the continued and accelerating output by the US industrial sector, the government reported Friday.

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VW could build up to 15 million electric cars

Volkswagen could build up to 15 million electric cars over several years on its new electric vehicle production platform, the company said on Friday, adding that its Chief Executive Herbert Diess had misspoken in an interview on Monday.

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Algeria expects FX reserves to rise -central bank governor

Algeria's foreign currency reserves will rise further as oil prices remain above the $50 per barrel mark planned in 2019 budget, its central bank governor said.

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Tractor maker Deere aims to ride green revolution in Africa

United States Deere & Co expects to see demand for its farm equipment in Africa grows 8% to 10% annually in the coming years, driven by expansion in key markets like Ethiopia and Zimbabwe, a local company executive said.

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Mobile phones help detect counterfeit seeds in Kenya

Besides more unpredictable weather and changing crop diseases,Kenyan farmers face another worry: counterfeit seed.

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UK PM May defends Brexit deal

British Prime Minister Theresa May won the backing of two senior ministers on Friday as she battled to defend her much-criticized draft divorce deal with the European Union as calls grew for a vote of no confidence in her leadership.

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Nestle to shift Nespresso global HQ to Vevey to save money

Swiss food giant Nestle will relocate the headquarters of coffee business Nespresso in2021 from Lausanne to the group's main campus in Vevey, 20 kilometres away, to save money.

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BlackBerry to buy cyber security firm Cylance

BlackBerry Ltd said on Friday it will acquire Cylance, an artificial intelligence and cyber security company, for $1.4 billion in cash to help expand its QNX unit that makes software for next-generation autonomous cars.

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Ramaphosa prioritise labour conditions

South African President Cyril Ramaphosa is at the International Labour Organisation in Geneva Switzerland on the last leg of his European tour.

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Eskom revises coal contract strategy, seeks supply security

South Africa’s cash-strapped power utility Eskom said on Friday it had revised its coal strategy to focus on contracts that offer long-term, fixed prices and security of supply as it faces possible poweroutages and low stockpiles of the fuel.

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