The UK's energy partner.

Learn more at equinore.

Good morning.

From the newsroom of the Financial Times. Today is Thursday

February 7th and this is your FT news briefing. Today the UK government admits

trade deals between the UK and other non-EU countries might not be ready before Brexit.

More departures from Facebook's embattled public relations team, and Middle Eastern investment

in Western property tumbles.

Then the F.T.'s James Polidi fills us in on US President Donald Trump's

nominee for the World Bank President.

I'm Eric Krupky, and here's the news you need to start your day.

UK business executives are furious with the way the government is handling a key part of the Brexit process.

The Department for International Trade held a briefing on Wednesday with 30 business

executives. During the confidential briefing, the department said it could not guarantee the

British economy would be covered by most of the EU's global

network of trade agreements immediately after Brexit. That's even if Parliament

approves Theresa May's Brexit deal. The EU has 40 preferential trade agreements covering 71 countries

and the UK needs to roll over those agreements regardless of whether or not it agrees to a withdrawal

deal with Brussels.

Even deals with big trading partners, including Canada and South Korea, are in doubt.

One executive at the confidential meeting told the F.T.

They were worried about what this meant for small business and retailers.

...