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Britain's trade deficit narrowed more than expected in October after big upward revisions to previous months following an error in how trade in gold was recorded, official figures showed on Friday. Construction output fell slightly on the month and in the three months to October continued its downward trend, the Office for National Statistics said, bucking more positive signs in some industry surveys. On Tuesday the ONS said it had made major errors in the calculation of Britain's trade deficit between January 2015 and September 2016, due to a misclassification of figures it had received on the trade in gold.
By Lincoln Feast and Greg Torode SYDNEY/HONG KONG (Reuters) - Vietnam has begun dredging work on a disputed reef in the South China Sea, satellite imagery shows, the latest move by the Communist state to bolster its claims in the strategic waterway. Activity visible on Ladd Reef in the Spratly Islands could anger Hanoi's main South China Sea rival, Beijing, which claims sovereignty over the group and most of the resource-rich sea. Ladd Reef, on the southwestern fringe of the Spratlys, is completely submerged at high tide but has a lighthouse and an outpost housing a small contingent of Vietnamese soldiers.