Iran will immediately take steps to reopen the Strait of Hormuz once a tentative deal with the U.S. to end the war is signed and will be allowed to sell its oil without restrictions, according to leaked copies of an interim agreement that officials say broadly matches the document.

The accord, due to be formally signed in a ceremony in Switzerland on Friday, lays out that the U.S. would secure at least $300 billion to rebuild Iran after the war and work to end all American and United Nations sanctions imposed on Tehran if a final agreement addressing Iran’s nuclear program is reached.

The U.S. agreement to immediately allow Iran to sell its oil freely and the offer to eventually lift all sanctions represent major concessions that outstrip the terms of Iran’s 2015 nuclear deal with world powers, which U.S. President Donald Trump unilaterally withdrew America from in his first term, declaring it the “worst deal ever.” This new accord likely will draw intense criticism in Washington — and appears to be a major setback for Israeli Prime Minister Benjamin Netanyahu, who launched the war with Trump on Feb. 28.

The deal calls for an immediate end to all fighting in Lebanon between Israel and the Iranian-backed militia Hezbollah. That is one of the most delicate parts of the agreement because Israel has maintained it will continue to defend itself and to occupy vast swaths of Lebanon. Iran has said it must withdraw under the deal, although the leaked versions make no mention of withdrawal.

The two sides are to start 60 days of negotiations over a final deal that the Trump administration insists will prevent Iran from ever developing a nuclear weapon. The U.S. offers appear aimed at enticing Iran to strike an agreement.

But in the meantime, Iran appears to be getting benefits up front while making few concessions. Much of the agreement would restore the status quo before the war, including ending hostilities and reopening the strait, which is a crucial passage for the world’s oil and natural gas and whose closure created a historic energy crisis.

Other concessions to Iran — some of which are extraordinary, including the money for rebuilding, the full lifting of sanctions and the release of frozen assets — appear dependent on the progress of further negotiations on Iran’s nuclear program.

A person who was briefed on the memorandum of understanding after it was signed and another who viewed a copy beforehand said it largely matched the text of what was published by the Saudi-owned broadcaster Al Arabiya, which reported details of the deal Tuesday. The two people spoke on condition of anonymity because of the sensitivity of the discussions.

Another two officials in the Mideast, who spoke on condition of anonymity for the same reason, also said the versions published by Al Arabiya and Bloomberg broadly matched the final agreement.

The White House and other American officials have not published the terms and did not immediately respond to questions. Iran also has not published an official version of the deal. Iran’s semiofficial Tasnim news agency, close to its paramilitary Revolutionary Guard, claimed Wednesday that Bloomberg’s version had missing portions, without offering a full accounting.

Electric SUV maker Rivian Automotive (Nasdaq: RIVN) has cut hundreds of jobs as it seeks to achieve profitability, the company confirmed.

A few weeks ago, Google Gemini taught me some new graphic design skills.

Billions of venture dollars are flowing into a single bet: If you can generate a medically sophisticated answer fast enough, you have solved something meaningful in healthcare. The pitch is seductive. Doctors are under extreme time pressure, patients wait months, and large language models (LLMs) can now produce answers that are polished, empathetic, and clinically credible in seconds, at a fraction of the cost.

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When a grass fire started by the side of an Oregon road last summer, it covered just half an acre—too small to show up on typical satellites. But it was spotted by a new prototype from FireSat, a satellite program designed specifically to detect wildfires. Fire agencies weren’t using the system at the time, but once fully operational, it could send alerts before fires spiral out of control.

A hiring manager I worked with recently spent three weeks screening candidates for a digital marketing role. Strong résumés, solid interviews, plenty of platform experience. She made an offer. The candidate accepted. Two months later, she called me: “They’re great, but they’re not what we actually needed.”

Genesis AI is betting against the tech industry’s obsession with bipedal, human-mimicking robots. Their first general-purpose machine, Eno, pairs millimeter-precise dexterous, human-like hands with a minimalist, wheeled base that can dynamically fold away out of sight. It’s a general purpose robot, designed to do anything you can imagine, from factory jobs to household chores, but its first deployment will be in labs.

Traditional business degrees once guaranteed a path to leadership, but today’s market increasingly rewards technical literacy over classroom credentials. The shift reflects a fundamental change in how companies measure capability and potential. Below, industry veterans and hiring managers examine whether hands-on platform mastery has become more valuable than an MBA for modern professionals.

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As America hurtles toward its 250th birthday, the world is watching. Ian Bremmer, Eurasia Group President and PBS host, gives his unvarnished read on the state of Brand America. He shares how he’s advising business and political leaders around the globe, why he believes the US is overdue for a revolution, and what the widening gap between American wealth and American opportunity means for the country’s standing in the world. 

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When Elon Musk finally closed on his deal to acquire Twitter, it seemed like the tech mogul may have bitten off more than he could chew. After all, over the course of 2022, Musk had offered to take the social media giant private; tried to back out of that proposal amid financial pressures; and ultimately been forced to move forward with the purchase anyway by the Delaware Chancery Court.

In a small West Virginia county a few years ago, Wanda (pseudonym) asked her employer for some time off to deal with a situation at home. Her employer turned her down.

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