Cautious Thaw

• Indian Prime Minister Narendra Modi and Chinese President Xi Jinping will hold talks on September 12 during the BRICS summit. • The meeting occurs on the sidelines of the summit to address the ongoing relations between the two nations. • This diplomatic engagement represents a cautious thaw in relations following a period of conflict between the two countries.

• India and China are experiencing a cautious diplomatic thaw following a period of tension that began with a deadly border clash in 2020. • The Chinese leader is making his first official visit to India in seven years to help stabilize relations between the two Asian powers. • This shift toward stability reduces the risk of military escalation and opens potential for renewed economic cooperation between the two markets.

• Berkshire Hathaway's cash and equivalents surged to $168 billion at the end of Q1 2026, its highest level in over a decade, as Warren Buffett continued to reduce equity holdings amid concerns over elevated asset valuations. • The conglomerate reduced its Apple stake by 8% during the quarter and trimmed Bank of America holdings further, citing a lack of compelling investment opportunities in current market conditions. • Investment income from fixed-income holdings generated $3.2 billion in the first quarter alone, demonstrating how Berkshire's massive cash reserve is now earning meaningful returns in a higher-rate environment.