An initial agreement to end the war between the United States and Iran calls for Tehran to dilute its stockpile of highly enriched uranium and would waive sanctions on the country, immediately allowing Iran to sell its oil freely. That's according to U.S. officials who read the language of the memorandum on ending the war to journalists on Wednesday. Iran also released a similar version of the accord. The agreement would also open the Strait of Hormuz toll-free for two months and affirm a commitment to Lebanon’s territorial integrity in the face of Israel’s invasion against the Hezbollah militant group. Both the U.S. and Iranian presidents have signed the deal.

Police say a man held 10 people hostage inside a California office building before the FBI shot and killed him, bringing a more than 15-hour standoff to an end. The Bakersfield Police Department says the hostages were found unharmed early Wednesday inside the downtown Bakersfield building that houses a bank and a school district office. The standoff began Tuesday afternoon when officers responded to a call of a bomb threat. Authorities say the suspect was an Army veteran who was dishonorably discharged, had a history of trouble with law enforcement and was a registered sex offender.

Officials say police are locked in negotiations with a man holding hostages inside a building that houses a Chase bank branch and school district office in the Southern California city of Bakersfield. The Bakersfield Police Department said Tuesday that officers responding to a call of a bomb threat arrived at the scene around 1 p.m. in downtown Bakersfield and discovered a man had barricaded himself inside the building with “several community members.” Police say through negotiations, two of the hostages were able to be released and the rest are in “good health." About a dozen police cars were on scene along with the FBI.