The threat of a trade war between the United States and China is unnerving business leaders and hitting the entire global economy, the head of the World Trade Organisation has warned. Roberto Azevêdo, the WTO director-general, said that “just the possibility” of an escalation in the dispute between the two countries was having an impact on corporate investment decisions. – The Times
One in three of Britain's millennial generation will never own their own home, with many forced to live and raise families in insecure privately rented accommodation throughout their lives, according to a report by the Resolution Foundation. In a gloomy assessment of the housing outlook for approximately 14 million 20- to 35-year-olds, the thinktank's intergenerational commission said half would be renting in their 40s and that a third could still be doing so by the time they claimed their pensions. – Guardian

China's economy grew more than expected in the first quarter as it withstood headwinds from Beijing's fight against financial risk and pollution, and trade tensions with the United States. While acknowledging the potential negative impact of a US trade war officials on Tuesday warned the country faced greater risk at home, citing the need for reforms. – Telegraph

Silicon Valley investors put a record £1.1bn into British technology start-ups last year, boosting claims that the UK is spreading its wings as a global tech hub. The figures, revealed in a report from law firm Pennington Manches, appear to knock back claims that international investors would turn their backs on the UK's technology companies after the Brexit vote. – Telegraph

British companies should do more to employ marginalised young adults if they want to arrest the looming labour shortage, a new coalition of major businesses including Marks & Spencer, BAE Systems and Berkeley Group will say on Tuesday. Fears that an exodus of foreign workers will hit the construction, agriculture and retail industries could be dealt with by targeting the nearly 500,000 people aged 16-24 who are not currently in education, employment or training, the group says. – Telegraph

Vauxhall is terminating the contracts of all its 326 dealerships in Britain as the company battles to deal with plunging sales and a changing market. The marque is ending all dealer contracts in the UK – a move also happening with sister brand Opel across Europe – as the entire sales network is reorganised. – Telegraph

Netflix's willingness to take risks appeared to be paying off last night when it reported record revenue growth in the first quarter. As the on-demand video company continues to attract new subscribers, it said that its revenue had hit $3.7 billion in the first three months in the “fastest pace in the history of our streaming business”. – The Times

Employees who blow the whistle on corporate tax avoidance or cheating on product standards would be entitled to special legal status under a draft EU law. The European commission will next week propose legislation that intends to protect whistleblowers. Recent scandals have exposed the limited help available for people seeking to expose corporate behaviour in the public interest. – Guardian

Almost £1 billion was wiped off the value of WPP yesterday as the advertising giant launched a hunt for a chief executive to succeed Sir Martin Sorrell amid mounting fears that his exit could precipitate a break-up of the company. As well as uncertainity about the future of WPP, there is anger about the company's use of non-disclosure agreements, which mean that allegations of personal misconduct and abuse of company funds against Sir Martin, which he denies, are unlikely to be publicly aired. – The Times

Sir John Kingman has been appointed chairman of a new “root and branch” review into the Financial Reporting Council, the accounting watchdog. The chairman of Legal & General and former second permanent secretary at the Treasury would investigate the governance, impact and powers of the FRC, Greg Clark, the business secretary, said.

Britain's cyber-security watchdog has warned telecommunications companies against dealing with the Chinese manufacturer ZTE, citing “potential risks” to national security. The US commerce department has imposed a seven-year-ban on companies selling products and services to ZTE – which makes mobile phones and network equipment – alleging it failed to crack down on personnel who sold sensitive US technology to Iran and North Korea. – Guardian

BP has taken its first clear steps in the battle to tackle climate change by ­vowing to cap its greenhouse gas ­emissions until 2025 as pressure grows on Big Oil to clean up its act. The super-major will hope to see off a rebellion from worried shareholders and activist investors at next month's AGM with a fresh plan to cut 3.5 million tons of carbon from its operations every year. – Telegraph

A London-based company has cashed in on the boom in DNA-testing kits by selling itself to a Hong Kong firm backed by Alibaba. Prenetics, which the Chinese internet retail behemoth invested in last year, has paid $10m (£7m) to acquire DNAFit, a five-year-old company that sells tests designed to determine a person's suitability to different diets and exercise regimes. – Telegraph

Documents showing that bribes worth millions of dollars were allegedly paid by BSGR, a company controlled by an Israeli billionaire, to secure vast iron-ore deposits at the Simandou concession in west Africa appear to be genuine, according to a leading forgery expert. At a tribunal hearing in Paris last month, lawyers considered evidence from Riley Welch, an American forensic laboratory appointed to offer an independent and impartial assessment. – The Times