Guy Johnson

News when you want it with Bloomberg News Now.

I'm Guy Johnson.

And I'm Stephen Carroll.

The United States and Iran are considering a fresh proposal to end the war that has upended the global economy.

Sources say Washington has presented a one-page memorandum of understanding that would gradually reopen the Strait of Hormuz and lift the American blockade on Iranian ports.

Iran is expected to respond via Pakistan within the next two days.

The offer caps a chaotic 48 hours as President Donald Trump searches for an exit.

from a conflict that has driven up energy prices and dented his political standing.

Speaking yesterday, he offered a characteristically bullish assessment of progress.

Throughout the war, President Trump has repeatedly suggested that a deal is close, though none has materialised.

Under the current plan, detailed negotiations over Iran's nuclear programme would come later, with nothing yet agreed.

Iranian state media has signalled that parts of the US proposal remain unrealistic to the country's leadership.

The oil price is also a little lower, which may be a contributing factor to that.

The Bank of England is privately starting to doubt Britain's official growth statistics.

GDP data next week is likely to paint a rosy picture of the economy, but Bloomberg understands...

BOE officials think the UK Statistics Agency is overplaying the numbers.

James Wilcock has more.

That's news when you want it with Bloomberg News Now.

I'm Guy Johnson.

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