James Woolcock

And also he's seen as bringing in this kind of new wave of left wing Labour voices.

News when you want it with Bloomberg News Now.

I'm James Woolcock.

President Trump has signed an interim deal to end the war with Iran and reopen the Strait of Hormuz.

According to a US official, the so-called Memorandum of Understanding is now in effect.

However, it is unclear if Iran has begun taking steps to fully reopen the waterway.

Explaining his decision to agree to an interim peace deal, Trump repeated his insistence that the country would never obtain a nuclear weapon.

Yet the president went on to suggest that Iran should have the right to enrich uranium for electricity and be allowed to develop ballistic missiles.

President Trump also defended the $300 billion development program for Iran in the deal, while saying he's ready to release billions of dollars in frozen Iranian assets.

The details of Trump's deal have prompted unusually strident criticism from Iran hawks who say it amounts to a victory for Tehran.

Speaking to Bloomberg government, Trump's first term vice president, Mike Pence, argued that the agreement makes no mention of verifiably dismantling the country's nuclear weapons program.

Now, that jobs data comes as the Bank of England is expected to leave interest rates unchanged today after UK inflation came in steadier than expected.

Both traders and economists believe rates will be held at 3.75%, even with the recent energy shock.

Hugh Gimber is global market strategist at JPMorgan Asset Management.

JP Morgan's Hugh Gimber there, as economists surveyed by Bloomberg, see the Monetary Policy Committee splitting 7-2 split in favour of a hold.

In sports news, England manager Thomas Tuchel has praised his team's second-half performance after they beat Croatia 4-2 in their opening Group L game of the World Cup.

Captain Harry Kane scored twice, while Jude Bellingham and Marcus Rashford were also on target.

The teams went into the break level at 2-2.

Kane said a half-time message from the manager inspired the win.

England are the early leaders in Group L heading into next Tuesday's clash with Ghana.