Border Force cancels P&O Ferries contract after massive layoffs Business

ghello. The government has terminated a contract with P&O Ferries, criticizing its “unacceptable behaviour” in laying off nearly 800 workers earlier this year.

P&O’s contract with UK Border Force will end with immediate effect, the Home Office has announced. It comes just days after P&O was criticized for failing to return some of the property of employees who had been made redundant, as part of efforts to cut costs.

5 things to start your day

1) Britain lags behind France in foreign investment Emmanuel Macron has launched a charm offensive to court international companies after Brexit

2) West Midlands to become a research hub for next-generation electric car batteries The facility near Birmingham will focus on high performance car brands such as Aston Martin

3) Car ownership declines as drivers hit by soaring fuel prices Motorists are abandoning their vehicles after a severe shortage of new models

4) Rushing to reopen the Rough natural gas storage site Kwasi Kwarteng in talks with owners of mothballed facility amid efforts to ease energy crisis

5) Closing of the charity of Alexander Lebedev Billionaire leaves Lebedev Foundation following sanctions in Canada

What happened overnight

Asian markets fluctuated on Tuesday as investors struggled to sustain a global rally as inflation continued to slow on higher oil prices. Hong Kong fell slightly after two days of gains which saw it gain around 5%, while Shanghai was also slightly down. Sydney, Taipei and Manila were also in the red, although Tokyo, Seoul, Singapore, Jakarta and Wellington rose.

coming today

• Annual results: B&M, Pennon Group
• Economy: Inflation (EU), Manufacturing PMI (China), National House Price Index (UK), BRC Retail Price Index (UK), Consumer Confidence (US), Housing Price Index ( United States)