The British government has blocked the takeover of the UK’s largest producer of semiconductors by a Chinese-owned manufacturer, citing “a risk to national security”. The business department’s decision on Wednesday comes more than a year after semiconductor company Nexperia first announced that it had taken control of Newport Wafer Fab in south Wales in July 2021, in a £63m deal. – Guardian
Labour is planning to force a vote on guaranteeing in-person banking across the country, following swathes of branch closures that have left local communities without face-to-face services. The party’s amendment to the financial services and markets bill would give City regulators the power to ensure communities have regular access to “essential” in-person services, including opening new accounts, applying for loans, making and receiving payments and setting up standing orders. – Guardian
The average price of used cars fell for the first time in over two years, as supply chain problems started to ease for manufacturers. New inflation figures from the Office for National Statistics show that the price of second-hand cars fell by 2.7pc in the year to October. This is the first month that it has gone negative since the onset of the pandemic. However, it follows 23pc growth in the year to October 2021, meaning that prices are still much higher than before Covid. – Telegraph
Sadiq Khan is under fresh pressure to drop his controversial expansion of the ultra-low emission zone (Ulez) as new polling reveals the majority of Londoners oppose the mayor’s flagship policy. Around 60pc of Londoners said they oppose Ulez expansion across all of Greater London, according to a YouGov survey conducted on behalf of Conservative party members of the Greater London Assembly. – Telegraph
The head of the financial regulator has warned the City that the way in which financial firms treat consumers during the looming recession “will determine the industry’s reputation for decades ahead”. In a speech to industry bosses at the annual UK Finance dinner in London last night, Nikhil Rathi urged banks to ensure they passed on the Bank of England’s interest rate increases to savers. – The Times
The media regulator has sounded the alarm over the amount of power and influence that Silicon Valley’s biggest companies have over the news that people consume online. Two thirds of UK adults get their news from social media companies including Facebook and Twitter, search engines such as Google and apps including Apple News, up from 18 per cent in 2005. Facebook is the third most popular news source in Britain, after the BBC and ITV, while among younger teenagers Instagram, TikTok and YouTube come top. – The Times
