CNBC Daily Open: Russia-North Korea defense pact
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here .
Russia-North Korea partnership
Russia and North Korea signed a "comprehensive strategic partnership" deal on Wednesday, including a mutual defense pact, during President Vladimir Putin's first state visit to North Korea in 24 years. Putin received a grand welcome from North Korean leader Kim Jong Un, who expressed full support for Russia, including its actions in Ukraine. The partnership has raised concerns among Western officials. CNBC's Holly Ellyatt has more insights into this marriage of convenience.
On hold
The Bank of England is expected to hold interest rates despite inflation falling to its 2% target ahead of the upcoming general election. Money markets predict a low probability of a rate cut in Thursday's meeting, with bets on an August cut also trimmed. While the 2% inflation mark is significant, it was anticipated and mainly driven by lower energy prices. Further fluctuations are expected as the impact of energy prices diminishes.
Musk clarifies remarks
Elon Musk attempted to clarify his controversial remarks after advertisers threatened to leave X. Musk previously told advertisers to "go f--- yourself." He explained it was about free speech, not directed at the entire advertising industry. "It wasn't to advertisers as a whole," Musk said at the Cannes Lions advertising festival in Cannes, France. "It was with respect to freedom of speech. I think it is important to have a global free speech platform, where people from a wider range of opinions can voice their views."
Mixed Europe
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