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Good morning.

From the newsroom of the Financial Times, today is Tuesday, December 4th, and this is your F.T. news briefing.

Today we'll be looking at Brussels new plan to challenge the US dollar.

A possible third bailout for London's new Light

Rail project and how a group of hackers is targeting CFOs. Then the FT's

Anjali Revol is here to tell us why Cutter is leaving OPEC.

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

The F.T. reports that Brussels has a plan to challenge the US dollar as the world's reserve currency.

Tomorrow, the European Commission is set to publish a blueprint to promote a quote,

stronger international role for the euro. The Financial Times saw a draft of the

blueprint. The Commission is expected to say that US President Donald Trump's policies have

underlined the need to increase the EU's

economic sovereignty. With the blueprint Brussels is calling for more political

pressure for energy contracts to be denominated in the euro.

They'll also advocate channeling euro-denominated financial trades through registered platforms,

and they'll encourage the development of an EU payment system.

The currency used for energy sales is especially important right now.

Europe is trying to preserve a deal with Iran to curb Tehran's nuclear activities.

More than 80% of the EU's energy imports are priced and paid for in US dollars, and the US has

pulled out of the nuclear deal with Iran.

...