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Good morning from the newsroom of the Financial Times.

Today is Wednesday, October 17th, and this is your FT news briefing.

Today we'll be looking at a potential extension for the Brexit transition period,

upbeat Netflix earnings, how Uber's preparing for an IPO,

and just how big the market for cannabis will be in Canada.

I'm Amy Keene.

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

to start your day.

European leaders are in Brussels today

for the highly anticipated European Council summit.

Many hope that this meeting would be a key moment for Brexit negotiations, but that hope collapsed

earlier this week.

Nami Michelle Barnier, chief European negotiator, is open to the possibility of a one-year

extension to the Brexit transition.

If Prime Minister Theresa May accepts a so-called two-tier backstop to avoid a border in Northern Ireland.

But Euroskeptic MPs probably won't want to drag the process out any longer.

And on Tuesday night in Washington, the Trump administration opened the door to starting

formal trade talks with the UK, quote, as soon as it's ready after Brexit.

And in the tech world, Netflix beat estimates for subscriber growth and earnings in the third quarter.

Executives predicted 5 million new subscribers, but ended up with nearly 7 million, and shares were up 12% in aftermarket trading.

...