_{ECONOMIC NEWS}

Warren Buffett’s $982 Million Bank of America Sell-Off: A Dire Warning to Protect Your Wealth

Warren Buffett has taken another ominous step by selling $982 million worth of Bank of America shares, signaling potential trouble ahead. According to a regulatory filing, Berkshire Hathaway offloaded 24.7 million shares on August 23, 26, and 27, continuing a worrying trend of massive sell-offs. Despite holding onto 903.8 million shares valued at $35.9 billion, this is the latest in a series of significant reductions, including a $3.8 billion sale earlier this month.

But that’s not all—Buffett has also been offloading other major holdings, including over 389 million shares of Apple Inc., while amassing a staggering $189 billion cash reserve. While some analysts downplay these moves, others, like Ross Gerber, warn that Buffett may be missing the boat on the rapidly advancing AI revolution, raising fears that he might be bracing for a market downturn. Bank of America’s stock has already shown signs of instability, dipping in after-hours trading, and could be a canary in the coal mine for more significant market turbulence. Read More.

_{CURRENCY FORECAST}

De-Dollarization and Multipolarity Take Center Stage at October BRICS Summit: Report

The upcoming BRICS Summit in Russia might see a non-binding agreement on de-dollarizing trade among member states, with discussions around a notional "BRICS currency" derived from a basket of currencies, according to a report by The Hindu Business Line. India, one of the key members, is cautiously evaluating the benefits and risks, particularly concerned about not increasing its dependency on China’s yuan. While India supports financial multipolarity, it seeks to avoid replacing the dollar's dominance with that of the yuan. The summit could mark a significant step towards reducing reliance on the dollar, potentially weakening U.S. economic influence. However, the full impact of these proposals remains uncertain, especially regarding India's role and how the rupee might be internationalized alongside the yuan. Read Now.