Greybull is a private equity investor which specialises in attempting to turn around struggling UK companies. Like a leading surgeon who takes only the hardest cases, it naturally has a higher failure rate than a conventional fund. When it does succeed, no doubt it makes a lot of money, and good luck to them, risk and reward Plym, that's all. British Steel and indeed British steel generally have indeed been very sick for years but two things have pushed it under now rather than earlier are both Brexit related. Firstly, loss of European customers who are not placing orders that will bear tariffs in the case of a hard Brexit. They won't be the last group to do that, believe me. Secondly, the need to pay carbon trading costs under the EU Emissions Trading System at a time when their their income has been slashed by lost European sales. Although this has pushed them under, EU ETS in my opinion is an excellent environmental scheme that rewards low carbon firms and penalises high carbon ones. I'm far from a committed environmentalist but it's a good example of what 28 countries can do acting together that one can't and that goes straight for the big polluters rather than messing about with plastic straws and cow farts. The world is indeed a hard place .......... but we're going to all those brilliant trade agreements with places just like China, Indonesia, India and Brasil aren't we? Aren't we?