Musk and Trump, ostensibly political allies over cuts to federal spending, publicly clashed on June 5 in a series of exchanges across social media and in comments to reporters. The origin of the dispute is the impact Trump's One Big Beautiful Bill has on U.S. public debt.

Officials offered to mediate and even asylum for Elon Musk as many commented how a leader falling out with a top businessman was familiar to Russia.

The Bank of England still expects the ongoing rise in UK inflation to fade but is "not sanguine" about it after price growth proved more persistent than anticipated only a few years ago, BoE monetary policymaker Megan Greene said on Saturday.