ITV's Robert Peston reports on the matter
Says that Labour's negotiations with the government is pretty much over ahead of the party launching its EU elections manifesto tomorrow.
Part of its campaigning will likely involve a stance on a possible compromise with the government, but with no breakthrough expected in talks later today, they may very well just drop it. More on that here.
The headlines here certainly doesn't help to lift the gloomy mood in the pound, as cable falls to a low of 1.3002 and hovers just around there at the moment.
