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Morning Wrap: today's top business stories

News stories from around the web.

UK launches historic postal service float (FT)

The coalition has announced its historic plan to float Royal Mail on the stock exchange, triggering a privatisation that even Margaret Thatcher thought a step too far.

Morrisons supermarket reports fall in half-year profits (BBC)

Morrisons, the UK's fourth largest supermarket chain, has reported a fall in half-year profits, citing "challenging" market conditions.

Pre-tax profits fell to £344m for the half-year to 4 August, compared to £440m in the same period last year.

Tina Brown quits Daily Beast website (FT)

Tina Brown, editor in chief of The Daily Beast, is to leave the online news outfit to form a new company called Tina Brown Live Media, bringing to an end her five year reign at the organisation.

Boom in female brewers as beer revolution gathers pace (Telegraph)

Back in Ancient Egypt women were predominantly responsible for brewing beer as part of their household chores but in modern times the profession has been dominated by men. That could be about to change.

Banks may have to raise extra £50bn under emerging 'Basel IV' (Telegraph)

Britain's major banks could have to raise £50bn in fresh capital as international regulators "gold–plate" the new industry standards.