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Good morning.

From the newsroom of the Financial Times, today is Monday, November 5th, and this is your F.T.

News briefing.

Today we'll be looking at how Europe is preparing for new U.S. sanctions on Iran, Prime Minister Theresa May's promise of

frictionless trade with the EU, and how one of the US's largest financial technology firms is making its first move overseas.

Then, we'll take you to Kansas City, where Americans are preparing to vote for or against President Donald Trump,

even though his name won't be on any ballot.

I'm Eric Krupky, and here's the news you need

to start your day.

Today, the US is set to launch tough new sanctions against Iran's energy industry and its

Central Bank and European governments have been negotiating over a special purpose vehicle to

safeguard trade with Iran.

There are still crucial details to work out though,

like which country will play host.

Countries fear political and economic backlash from the US if they do.

The sanctions come from the Trump administration's decision to pull out of the 2015 nuclear

accord negotiated by the Obama administration, and it's pitted the U.S. against other countries who signed on, like some

European powers, China, and Russia.

Prime Minister Theresa May has told business leaders she's committed to quote

frictionless trade with the EU just like she proposed in her Brexit divorce plan in

...