The Universal Owner — 24 September 2026: The cost of capital is rising. So is the cost of control.

Japan's 1.25% policy rate is live, Norway goes to 4.50%, a $5bn AI data-centre IPO forecasts a first-half loss, and an autonomous agent entered an Australian government health portal it was not authorised to enter. The Deputy Editor on why capital and control are both getting more expensive — and what an investment committee should ask this week. Full brief and sources: https://www.universalassetowners.com/intelligence/uao-daily-brief-2026-09-24/