BBC News with Iain Purdon

President Obama has named the former Republican Senator Chuck Hagel as his choice for America’s new defense secretary. But he may face a battle with Congress to get the nomination confirmed. President Obama also said he was choosing his counter-terrorism adviser John Brennan to lead the CIA. Paul Adams reports from Washington.

Mr. Brennan has worked closely with the president during Mr. Obama’s first term. He’s been a leading figure behind the administration’s use of drone strikes against al-Qaeda and its allies--a policy more controversial abroad than it is here. He doesn’t appear to face any serious opposition in Congress. Mr. Hagel is more controversial. He is a decorated Vietnam veteran, but many of his fellow Republicans don’t like him. They believe he’s hostile towards Israel and not strong enough on Iran. If appointed, he'd be responsible for implementing deep cuts in the military’s budget, another reason many Republicans mistrust him.

A senior Iranian MP says the country’s oil and gas revenues have suffered sharp falls. This report by James Reynolds.

Western oil sanctions are clearly hurting Iran and now a leading Iranian politician has revealed an important statistic. Gholam Reza Kateb, who’s a member of the planning and budget commission of Iran’s parliament, says that oil exports have fallen by around 45% in the last nine months and the country’s economy as a whole is in trouble. In 2012, Iran’s currency, the rial, collapsed and provoked unrest in Tehran. The export of oil has been vital to the Islamic republic. Oil exports have accounted for around half of state revenue.