Asian stocks were broadly steady as elevated oil prices and rising bond yields kept investors cautious ahead of the Federal Reserve’s interest-rate decision.

MSCI’s Asian equities index advanced 0.1%. Contracts for Wall Street gauges also nudged up in early trading as OpenAI weighed a new funding round at a $1.2 trillion valuation. The S&P 500 and Nasdaq 100 slipped Tuesday, while a gauge of chipmakers eked out an increase.

Helping sentiment, US crude oil fell 0.6% to $105.15 a barrel after surging more than 20% this month. The rally in energy prices and growing bets on a Fed rate hike had fueled a bond selloff, pushing the 10-year Treasury yield as high as 5.04% — the highest in almost two decades — before it closed at 5.00%.

Read more: US Treasury secretary Scott Bessent says rising bond yields due to ‘global issues’

Treasury futures consolidated, while government bonds opened higher in Australia and New Zealand.

Elsewhere, Bitcoin extended its slide to trade around $75,600 as the US Senate blocked a landmark crypto market structure bill.
The Fed’s decision Wednesday is in focus after hotter-than-expected core inflation last week and concerns over government budgets bolstered expectations for the first rate increase in since 2023. Markets are pricing in a more-than-90% chance of a hike, raising the prospect of tighter financial conditions as elevated energy and borrowing costs weigh on equities.“If the Fed follows the futures market and hikes rates, our sense is that stocks are likely to see downward pressure over the near-term,” said Chris Senyek at Wolfe Research. “However, we’ve found that over a longer time horizon — six to 12 months after the first rate hike — stocks typically recover and push into positive territory.”

Three major central banks meet this week, with the Fed followed by policy decisions from the UK and Japan, potentially reshaping the monetary-policy outlook for the rest of 2026.

A decision to hold rates — or a hike without clear guidance on further increases — may push investors to demand higher long-term yields as protection against inflation, while shorter-dated yields track the Fed’s policy path more closely.

Officials have held their benchmark rate steady in a range of 3.5%-3.75% since December as a majority of policymakers argued that progress in lowering inflation was being stalled by temporary factors.

Elsewhere, Brent slipped in early Wednesday trading after settling almost 3% higher Tuesday as outages at a key Saudi pipeline and Libyan oil fields added to supply risks in a market already hit by disruptions from the Iran war.

Traders were watching for signs of how long Saudi Arabia’s East-West pipeline will remain closed after drone attacks halted operations last week. Saudi Aramco is delaying oil supplies to some European customers this month, people familiar with the matter said.

“The combination of higher interest rates and elevated oil prices is like asking equities to run a marathon with ankle weights strapped on,” said Darrell Cronk at Wells Fargo Investment Institute. “Higher rates increase the discount rate investors apply to future earnings, while higher energy costs drain purchasing power from consumers and pressure profit margins.”

Jensen Huang, chief executive of Nvidia, has rejected the need for new laws and regulations to control the development of artificial intelligence, saying market forces are enough to manage the risks.

Huang, who runs the $5 trillion semiconductor company, said: “The market forces are already there, we don’t need any new laws, we don’t need new regulations.”

He was speaking this week at Dreamforce, the conference hosted by Salesforce in San Francisco.

Huang said companies should act on the safety of their own tools and decide for themselves not to release dangerous products.

“Run as fast as you can, but if at any time you feel it’s not in control, take a pause,” he said.

Amodei calls for joint safety standards

Huang’s intervention follows a call from Dario Amodei, chief executive of Anthropic, for leading AI labs to “voluntarily work together to set standards”.

In an open letter of 3,800 words published on Saturday, Amodei warned that AI technology had been “advancing drastically faster” since the summer.

He said it could be capable of taking over the “entire internet” and of “potentially causing hundreds of billions of dollars in damage” in the next six to 12 months.

Amodei said Anthropic would give third-party auditors employee-level access to conduct continuous testing on model development.

To avoid antitrust issues, he urged the US government to issue a “narrow waiver” allowing companies to co-ordinate on safety standards. In his essay, We Must Pace the Frontier, Amodei wrote that the government did not need to take part in those discussions but did need to issue the waiver for certain kinds of safety conversations.

Business Matters has reported that Elon Musk and Sam Altman have publicly backed Amodei’s call to slow the AI race, with Altman saying OpenAI would postpone its stock market flotation until 2027.

Cohere warns of a cartel

Not every AI chief supports the proposal. Aidan Gomez, chief executive of Cohere, which builds large language models for businesses and governments, has warned that Amodei’s plan for AI labs to set safety standards jointly amounts to a “cartel by any other name”.

He told The Times: “Using fear under the pretext of protecting the public, these oligopolies are now requesting to bend competition rules and be permitted to dictate the terms for everyone else. A wolf in sheep’s clothing, a cartel by any other name.”

President Donald Trump has separately rejected calls to slow AI development, arguing that the US must keep its lead over China.

Researcher resignation

Public alarm about the potential danger posed by AI has been mounting since last week, when Jacob Coxon, a researcher at Anthropic, said he had resigned.

Coxon said he had left because the “people building AI earnestly believe that it could kill us all by the end of the decade”.

Brisbane residents injured in car accidents face a fast-moving legal process, and lawyers say the biggest risk to claimants is not knowing the strict deadlines that apply. Queensland’s compulsory third-party insurance scheme requires most notifications within nine months of a crash and formal claims within three years, according to legal experts, and missing those windows can end a case before it starts.

The Motor Accident Insurance Act 1994 governs the process, setting out how injured drivers, passengers, cyclists and pedestrians can seek compensation from an at-fault driver’s CTP insurer. Legal specialists say the paperwork, medical evidence and insurer negotiations involved can overwhelm people who are still recovering from their injuries, which is why a number of Brisbane-based firms have built practices dedicated to guiding claimants through each stage of a claim, from lodging a Notice of Accident Claim Form to negotiating a final settlement.

South East Queensland records a significant share of the state’s road trauma each year, a trend legal specialists attribute to population growth, tourist traffic and increasingly congested arterial routes on the Gold Coast and across greater Brisbane. Compensation available to successful claimants can include medical expenses, rehabilitation costs, lost income and damages for pain and suffering, depending on the severity of the injury and how liability is determined.

Five firms have built a reputation across South East Queensland for handling car accident compensation matters: Splatt Lawyers, The Car Accident Compensation Lawyers QLD, WT Compensation Lawyers, Maurice Blackburn Lawyers and Attwood Marshall Lawyers.

Splatt Lawyers – a Brisbane-based personal injury firm, is led by Kerry Splatt, a Queensland Law Society Accredited Specialist in Personal Injury Law with more than 25 years of experience handling serious and complex claims. The firm holds a 4.8-star rating from 283 Google reviews, making it one of the more consistently well-reviewed car accident practices in Brisbane. It operates on a full no-win, no-fee basis, covering disbursements such as medical report costs and court fees until a claim settles, and offers a free case review that can be booked online.

The firm marked 30 years of operating in Far North Queensland earlier this year, a milestone Splatt said reflected the relationships built with clients over three decades. “We owe this milestone to our clients, our partners, and our dedicated team,” Splatt said at the time. Splatt Lawyers also provides direct access to a senior lawyer rather than routing clients through intake staff, and offers home and hospital visits for people unable to travel following an accident.

The Car Accident Compensation Lawyers QLD – is a dedicated road accident practice led by an accredited specialist personal injury lawyer. The firm’s no-win, no-fee model covers file-running costs through to settlement, with no upfront fees or hidden charges. It offers an obligation-free initial consultation aimed at giving claimants a clear answer on whether they have a valid claim before any commitment is made.

WT Compensation Lawyers, based in Brisbane’s central business district, has expanded its car accident practice to cover the Gold Coast, assisting motorists, passengers, cyclists and pedestrians with claims tied to Queensland’s CTP scheme. The firm says many claimants are unaware of the deadlines that apply while they are focused on recovering from their injuries.

“Many people who are injured in a car accident are focused on their recovery and are not aware of the deadlines that apply to a compensation claim,” said Jonathan Wu, owner of WT Compensation Lawyers. “The aim is to remove some of that uncertainty by explaining the process clearly, handling the documentation, and dealing with insurers on the client’s behalf so that injured people can concentrate on getting better.”

Wu said the firm’s car accident work spans injuries sustained by drivers, passengers, motorcyclists, cyclists and pedestrians, with compensation potentially covering medical expenses, rehabilitation costs, lost income and damages for pain and suffering depending on the circumstances of each case. The firm also represents clients in workplace injury and Total and Permanent Disability insurance claims.

Maurice Blackburn Lawyers, which describes itself as Australia’s largest plaintiff law firm, operates a Brisbane team that has handled thousands of CTP claims. The firm’s Brisbane office is led by Executive Director Michelle James, with Principal Lawyer Jillian Barrett supervising work injury, road injury and public place injury matters across Brisbane, Ipswich, North Lakes, Toowoomba, the Sunshine Coast and Browns Plains. The firm operates on a no-win, no-fee basis and says its road injury team works to get rehabilitation costs covered quickly so injured clients can access treatment and support sooner rather than waiting on a final settlement.

Attwood Marshall Lawyers, established in 1946, has supported injured Queenslanders for more than 75 years and operates offices across the Gold Coast, Brisbane, northern New South Wales, Sydney and Melbourne. Its Compensation Law department is led by partner Jeremy Roche, a Queensland Law Society Accredited Specialist in Compensation Law who has been a vocal advocate for protecting the rights of road users under Queensland’s CTP scheme amid proposed changes to how the scheme operates. The firm operates on a no-win, no-fee basis across almost all compensation claims and offers a free, confidential initial consultation to assess a person’s options.

Legal specialists across the firms say the most common mistake injured claimants make is delaying legal advice while they focus on medical treatment, which can eat into the nine-month notification window under Queensland law. Lawyers recommend claimants keep records of medical treatment, lost income and any communication with insurers from the outset, even before formally engaging a firm, since early documentation can strengthen a claim later in the process.

For claimants unsure whether they have a valid claim, all five firms offer free or no-obligation initial consultations, and each operates on a no-win, no-fee basis, meaning legal costs are only payable if a claim is successful. Industry figures show CTP claims can take anywhere from several months to more than a year to resolve, depending on the complexity of injuries and whether liability is disputed by the at-fault driver’s insurer.

With Queensland’s road toll and traffic volumes continuing to rise across South East Queensland, particularly on the Gold Coast and in greater Brisbane, legal specialists expect demand for CTP claims guidance to remain elevated through 2026. Firms say early engagement with a lawyer remains the most reliable way for injured Queenslanders to protect their entitlements, understand their rights and avoid missing statutory deadlines that could otherwise jeopardise a claim.

ET Intelligence Group: Hero Motors, an automotive company, plans to raise ₹600 crore through a fresh issue towards capital expenditure, repayment of debt, and strategic investments. It will also raise ₹400 crore through an offer for sale. The promoter group’s stake will fall to 61.1% after the IPO from 84.7%. It offers integrated powertrain solutions for electric and non-electric vehicles across segments such as two-wheelers, e-bikes, performance automotive, off-road, hybrid and electric cars, heavy-duty vehicles, and electric vertical take-off and landing (eVTOLs). The EV segment’s revenue share increased to 23% in FY26 from 12% in FY24. About 41% of the revenue comes from international markets. Nearly 36% of the revenue comes from the top customer and 73% from top 10 clients, signalling customer concentration. Given these factors, investors with high-risk appetite may consider the IPO.

Business
Incorporated in 1998, Hero Motors supplies products across the United States, Europe, India and Association of Southeast Asian Nations region. The company operates through two segments, powertrain solutions, which contributes 54% to revenue, and alloys & metallics (A&M). Powertrain solutions includes gears & transmissions for automotive and mobility applications and bike powertrain for micro-mobility and e-bike makers, while A&M supplies sheet metal and tubular assemblies to automotive OEMs.

Read more: Sebi plans shorter disaster recovery drills, stronger backup rules for exchanges

Hero Motors has six manufacturing plants globally, including four in India. It caters to global customers such as BMW AG, Ducati Motor Holding S.P.A., Enviolo International Inc, Formula Motorsport, Hummingbird EV and HWA AG.

Financials
Between FY24 and FY26, revenue from operations rose 5.7% annually to ₹1,188.4 crore and net profit surged 55.5% annually to ₹41.2 crore. Operating margin before depreciation and amortization (EBITDA margin) improved to 12.4% from 8.1% during the period. Net debt increased to ₹428.2 crore in FY26 from ₹245.7 crore in FY24 though net debt-EBITDA ratio remained at around 2.9, implying profitable deployment of borrowed funds. Trade receivable days increased to 78 days in FY26 from 67 days in FY24, while trade payable days declined to 43 days from 47 days, implying higher working capital requirements.Read more: Prashant Jain’s 3P India among anchors as Hero Motors raises Rs 300 crore ahead of IPO

Valuation

The company has no direct listed peer. Considering the post-IPO equity and FY26 net profit, it demands price-earnings (P/E) multiple of 93 and price-sales (P/S) multiple of three. Some of the other auto-component suppliers such as CIE Automotive India, Endurance Technologies, UNO Minda, Varroc Engineering and Sona BLW Precision Forgings have P/Es in the range of 18-79 and P/S between two and 11.

Western Australians injured on the road face a different compensation system than the rest of the country, and lawyers say understanding it early is critical to protecting a claim. Most car accident claims in WA are managed through the Motor Injury Insurance Scheme (MIIS), a fault-based compulsory third party (CTP) insurance scheme run by the Insurance Commission of Western Australia (ICWA). Claimants must lodge a Notice of Intention to Make a Claim with ICWA, while catastrophic injuries can fall under a separate no-fault Catastrophic Injuries Support Scheme, also managed by ICWA.

The Motor Vehicle (Third Party Insurance) Act 1943 (WA) governs the process, and compensation for a successful claim can include medical treatment, ambulance transport, hospital care, allied health support such as physiotherapy, dental treatment, scans and medication, surgery, past and future economic loss, pain and suffering, and in some cases gratuitous services or paid care provided by family members. Legal specialists say the process can be daunting for someone still recovering physically and emotionally from a crash, which is why a claimant’s choice of lawyer can materially affect the outcome and speed of a claim.

Five firms have built a reputation across Perth and Western Australia for handling car accident injury claims: Bradford Legal, Maurice Blackburn Lawyers, TGB Lawyers, Trusted Injury Lawyers and Foyle Legal.

Bradford Legal, founded in 1991 as Bradford & Co, is one of the most established and trusted personal injury law firms in Western Australia. The firm is known throughout Perth for its work in workers’ compensation, work-related injury and car accident claims, and its team brings together decades of combined experience in the personal injury field. Partner Tim Heard has practised in personal injury law since 1990, graduating from the University of Western Australia before joining Bradford Legal in 1997. He has built a track record particularly in the District and Supreme Courts of Western Australia, and the firm says its lawyers prioritise open and honest communication with clients throughout the claims journey. Bradford Legal was ranked among the state’s top personal injury practices in Doyle’s Guide 2022 WA Plaintiff Personal Injury & Compensation Law Rankings, including recognition as a Leading Motor Vehicle Accident Compensation Law Firm, Leading Work Injury Compensation Law Firm and Leading Public Liability Compensation Law Firm. The firm handles motor vehicle accidents, workers’ compensation, public liability, medical negligence and catastrophic injury claims, and offers a free, no-obligation first consultation.

Maurice Blackburn Lawyers, which describes itself as Australia’s largest plaintiff law firm, operates a Perth team that has helped thousands of people navigate CTP claims. The firm explains that WA’s compensation system works on two tracks: the fault-based MIIS scheme, which covers most claims and requires the claimant to establish that another driver was responsible, and a no-fault scheme for catastrophic injuries that applies regardless of who caused the crash. Both schemes are administered by ICWA. Maurice Blackburn represents drivers, passengers, cyclists and pedestrians who were not at fault in a crash, and says successful claims can cover medical treatment, hospital care, allied health support, lost income for time unable to work, pain and suffering, and paid or gratuitous care. The firm positions its road injury team as focused on getting rehabilitation costs covered quickly so clients can access treatment without waiting for a final settlement.

TGB Lawyers, known formally as Tindall Gask Bentley, has more than 50 years of experience helping injured Western Australians pursue motor vehicle accident claims. The firm handles claims under the Motor Vehicle (Third Party Insurance) Act 1943 (WA), covering car crashes, motorcycle accidents, bicycle and scooter accidents, pedestrian injuries, and truck and bus collisions. TGB also represents passengers in rideshare, taxi and public transport vehicles, as well as the dependents of people fatally injured in a crash. The firm operates offices beyond Western Australia, including in South Australia and the Northern Territory, giving it broader cross-border experience across different state and territory compensation schemes. TGB offers a free initial interview to assess whether a claim is likely to succeed and to explain the steps involved, including lodging a Notice of Intention to Make a Claim with ICWA and providing supporting medical certificates.

Trusted Injury Lawyers, also known as RZ Injury Lawyers, is led by Principal Lawyer Radek Zacharek, who has more than a decade of personal injury litigation experience and says he has helped hundreds of people secure compensation. The firm markets itself on a one-on-one model, meaning clients deal directly with a senior lawyer rather than being handed off to a paralegal or legal clerk. It also offers a mobile service that comes to clients rather than requiring them to travel to an office, with availability seven days a week. The firm handles motor vehicle accidents, public liability, workers’ compensation, medical negligence, criminal injury, dog attacks, total and permanent disability, military service injuries and Comcare claims, all on a no-win, no-fee basis.

Foyle Legal, based in Malaga, WA, specialises in personal injury compensation across car accidents, workers’ compensation, public liability, criminal injury compensation and fatal accident claims. The firm operates on a no-win, no-fee basis across its personal injury practice and represents people injured at work, in a car crash or other motor vehicle accident, in a public place, as a victim of a criminal act, or living with a total and permanent disability.

Across all five firms, the common thread is a no-win, no-fee model paired with a free or no-obligation initial consultation, giving injured claimants an early, low-risk read on whether they have a valid case before committing to legal costs. As with car accident schemes in other states, timing matters in Western Australia. Lawyers recommend notifying ICWA as soon as possible after an accident, lodging a Notice of Intention to Make a Claim promptly, and keeping thorough records of medical treatment, lost income and correspondence with insurers from the outset. Legal specialists say early documentation can make a meaningful difference later in the claims process, particularly in disputed liability cases where an insurer may challenge the extent or cause of an injury.

With Perth’s population and traffic volumes continuing to grow, and motor vehicle accidents remaining one of the most common sources of personal injury claims in Western Australia, legal specialists expect demand for experienced CTP and MIIS claims guidance to stay strong through 2026. Firms across the state say the earlier an injured person seeks legal advice, the better positioned they are to understand their entitlements and pursue the compensation they are owed under WA’s motor accident insurance schemes.