Talks to reach a post-Brexit trade deal have been paused, because UK and EU negotiators say "significant divergences" remain. Please subscribe HERE http://bit.ly/1rbfUog
Michel Barnier and David Frost said conditions for a deal between the two sides have not been met.
European Commission President Ursula Von Der Leyen and PM Boris Johnson will discuss the state of play on Saturday.
State aid subsidies, fishing and enforcement of new rules remain the key sticking points in negotiations.
If a deal is not agreed by 31 December, the two sides will trade on World Trade Organization rules, meaning the introduction of taxes on imports.
Newsnight’s Business Editor Helen Thomas reports.