THE DAILY BRIEFING

■ TRADE WARNING Global commerce faces its worst crisis since the Second World War, claims Roberto Azevedo, head of the World Trade

Organisation, who said rising tariffs between the US and China could trigger a chaotic breakdown.

■ SUSTAINABLE ROLE Guinness and Baileys owner Diageo has appointed its president of global supply and procurement, David Cutter, as chief sustainability officer.

■ LISTING PLANS The Chinese owner of holiday firm Club Med is preparing a £2.5bn listing in Hong Kong. Fosun International wants to raise up to £430m.

■ STOCK DIPS Shares in Babcock International fell after it won a £100m deal to provide aerial firefighting services in Canada.

■ GETTING READY Japan’s Softbank is gearing up for the £16.6bn December float of its telecoms arm, the country’s biggest-ever listing.

■ AIM HIGH Tech firm Crossword

Cybersecurity, chaired by ex-MI6 boss Sir Richard Dearlove, is to delist its shares and float on the AIM.

■ NO SHARES Kazakhstan-focused

Nostrum Oil & Gas says non-executive directors will not be accepting shares under a long-term incentive plan after 34.5pc of shareholders opposed its remuneration policy. ■ FLOAT OFF Leasing firm Sirius

Aircraft Leasing Fund has cancelled its initial public offering.

■ FUND CONSULTATIONS The Investment Association is consulting on whether exchange-traded funds (ETF), which track a stock index or the price of a commodity or other assets, should be included in its fund sectors. This will make it easier to compare how active fund managers perform compared to their passive ETF counterparts.

■ LEGAL MOVE Litigation funder

Manolete Partners, which helps firms pay for their legal costs and takes a cut of any rewards, is to float on the junior market AIM.