PRESS DIGEST- British Business - April 19
The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.
* Tata Steel has appointed Standard Chartered PLC to help it to sound out possible buyers for its loss-making British division after formally kicking off a sales process for Port Talbot and other steelmaking sites. The Indian company, which has close ties to Standard Chartered in India, has asked the bank to work with KPMG, the auditor, to identify a potential acquirer, especially among Chinese steelmakers. (bit.ly/23UszyT)
* Profits at Morgan Stanley halved in the first quarter, in the latest sign of strife on Wall Street and the City for "bulge bracket" banks. The bank admitted that its trading and investment banking businesses had taken a hit from market volatility early in the year and a dearth of companies coming to the market. (bit.ly/1WC5ezY)