sanjeev gupta, once hailed the saviour of steel, was using tomorrow's money to pay today's bills, bytralian sugar cane farmer turned banker, lex greensill, who would buy those invoices at a discount for ready cash. but greensill went bust. claims have since emerged that former prime minister and greensill employee david cameron personally lobbied the chancellor on greensill�*s behalf. this is a sadly familiar story. once again, a major uk steel maker finds itself in big financial trouble. it's one—time saviour, sanjeev gupta, who bought this plant and plants right across the uk, has essentially run out of cash. remember, it was only 18 months ago the government had to intervene to keep british steel going. once again, it finds itself having to dust off plans to intervene in an industry it insists the uk still needs. the uk will need plenty of steel for transport and energy projects, so beyond another rescue, what could longer—term government support look like? that could mean supporting the industry through procurement, the same as the french government, through energy prices, the sa

and this man lent short—term specialist loans to sanjeev gupta her to keep his empire going.s that mean curtains for those steel jobs? it is syrian enough that kwasi kwarteng, business secretary, had an emergency meeting yesterday with the boss of liberty capital, one of his companies, but what the future held and it is also serious enough that unions are meeting tomorrow with liberty to find out what the threat to uk jobs are. liberty to find out what the threat to ukjobs are. in the liberty to find out what the threat to uk jobs are. in the short term, liberty says we have the money we need, apart from mr greensill but that view is not widely shared, there are grave concerns from unions and tonight the government says it is monitoring the situation very closely. is monitoring the situation very closel . . ~ is monitoring the situation very closel . ., ~ , ., is monitoring the situation very closel . ., ~ ,, ., is monitoring the situation very closel. ., ,, ., ., closely. thank you, simon jack, our business editor. _ malala yousafzai was a school girl when was she was shot i

so sanjeev so sa njeev gupta so sanjeev gupta was once described as the saviour of steel, he was a businessmanhat party did it using short—term specialist funding from a company called greensill capital which counts former prime minister david cameron is one of its paid advisers. today the company is on the brink of administration and without the money coming from greensill capital to sanjeev gupta's and irons steel interest there is a way that no one else could make this work. the company itself, the steel company says it has enough funding for its current needs and the government have an emergency meeting with the boss of the steel group yesterday and further meetings are planned and the government today says it is monitoring the situation carefully. but unions are very concerned. simon, thank you. more than 90% of adults said they would have a vaccine when offered it according to the office for national statistics but there is a reluctance among some in ethnic minority groups. around 1 in 6 younger people aged 16 to 29 also reported vaccine hesitancy. with the tokyo olympics and paralympics

sanjeev gupta, once hailed the saviour of steel, was using tomorrow's money to pay today's bills by selling prime minister and greensill employee david cameron personally lobbied the chancellor on greensill�*s behalf. this is a sadly familiar story. once again, a major uk steel maker finds itself in big financial trouble. it's one—time saviour, sanjeev gupta, who bought this plant and plants right across the uk, has essentially run out of cash. remember, it was only 18 months ago the government had to intervene to keep british steel going. once again, it finds itself having to dust off plans to intervene in an industry it insists the uk still needs. the uk will need plenty of steel for transport and energy projects, so beyond another rescue what could long—term government support look like? lt what could long-term government support look like?— support look like? it could mean supporting _ support look like? it could mean supporting the — support look like? it could mean supporting the industry - support look like? it could mean supporting the industry through | supporting the industry thro

collapse of financial services company, greensill capital, and the "troubled" business empire of sanjeev gupta the daily express is reportiting on a uk trade deal with the united states, which it says will bring "wealth to every corner of our nation". so that's a little taster of some of the front pages. let's begin, lovely to see you both. as you kick us off with a front desk the front page of the times, "britain set a jack of all adults by earlyjune." the times, "britain set a “ack of all adults by early june.'_ the times, "britain set a “ack of all adults by early june.�* what the times is saying — all adults by early june.�* what the times is saying is _ all adults by early june.�* what the times is saying is that _ all adults by early june.�* what the times is saying is that every - all adults by early june.�* what the times is saying is that every adult| times is saying is that every adult in the uk will have been offered at least one jab by the 10th ofjune, and this in some ways ties in with the front story of the telegraph about the pace of the vaccine which is been really great things

the mining tycoon sanjeev gupta had asked for a loan of £170 million after his main investor went intocting the firm's british sites. parents at batley grammar school in west yorkshire have called for calm to allow an incident where a teacher showed pupils a cartoon depicting the prophet muhammad to be properly investigated. there were angry protests outside the school on thursday and a further protest on friday. the school has suspended the teacher while an investigation takes place. but parents — including some of muslim pupils — say the protests and threats against the school are unhelpful. salvage teams trying to free the cargo ship still blocking the suez canal are hoping a high tide tonight will help the effort. with hundreds of vessels stuck either side of the ship, egypt's president has also ordered preparations to be made for containers to be lifted off it to lighten the load. our correspondent sally nabil reports from suez. the ever given container ship is still stuck, refusing to budge. another attempt to dislodge it is expected to take place tonight, making use of the high

greensill�*s customers include sanjeev gupta's liberty group, popularly dubbed the "saviour of the steelnder of seven investment management. a very familiar face on the programme. it's nice to see you, justin. many people are saying who is melanie and why should we care?— should we care? greensill caital should we care? greensill capital is _ should we care? greensill capital is a _ should we care? greensill capital is a factory - should we care? greensill i capital is a factory company. factory is a very old form of financing, basically taking people's invoices and paying them now so the supply can get money now —— supplier, and you charge on it. but what greensill capital was doing was on a much bigger scale, individual invoices were being bundled and creating bonds, bonds create a yield, but of course inside those bonds, there are good invoices and bad invoices. if any of this sounds familiar, like the sub—prime mortgage scandal, where they packed up bonds with dodgy mortgages, it is frankly almost exactly the same structure. what has happened now is people who have had their disk inv

the firm's founder, sanjeev gupta, sent a letter last week, asking for help to pay day—to—day operatingport. joining me now is janet mui. she is an investment banker. nice to see you. this is an ongoing saga, isn't it? what do you think may happen this week? thank you for having me. first of all the government has received about 170 million pounds of support so i think the first thing that liberty steel needs to do is to raise capital. to get the necessary finances to help with this working capital, the day—to—day cash flow, and also they are looking to sell their steel products inaudible and what they are doing is selling their scraps and also to accelerate the production of the final steel products to hopefully raise more cash to deal with that cash flow problem. it raise more cash to deal with that cash flow problem. it will aet that cash flow problem. it will net the that cash flow problem. it will get the money. _ that cash flow problem. it will get the money, do _ that cash flow problem. it will get the money, do you - that cash flow problem. it will get the money, do you think? t

collapse of financial services company greensill capital and the "troubled" business empire of sanjeev guptatrade deal with the united states is on the horizon, which will bring "wealth to every corner of our nation". that's according to the front page of the express. the telegraph says everyone over a0 should be offered their first covid vaccine by easter thanks to a "bumper boost" in supplies which will double current stocks. and finally, the times is also leading with vaccines, reporting that all adults will have had at least one jab by the 10th ofjune. so, let's begin. those are the front pages. great to have you back. britain is set to jab all adults by earlyjune, the front page of the times. this all adults by early june, the front page of the times.— page of the times. this is great news and it _ page of the times. this is great news and it is _ page of the times. this is great news and it is a _ page of the times. this is great news and it is a success - page of the times. this is great news and it is a success story. i page of the times. this is great - news and it is a success stor

sanjeev gupta said the support was required to pay day—to—day operating expenses and deal with recenton at the time compared to the death of sarah everard, who was abducted in south london. mina smallman feels the metropolitan police did not act swiftly when her daughters were reported missing. she was later told police had taken selfies with their bodies. mishal husain has been speaking to her. they were dancing in the fields with lights and just having a real good time. and we never, ever, spoke to them again. bibaa henry was celebrating her birthday on a june evening last year. her sister nicole smallman was with her in a london park. a search by friends found their bodies two days later. the family's trauma was compounded when they were told of allegations against officers at the crime scene. they had seen one of their colleagues, a police officer, taking selfies with our girls. and he'd notjust taken the photograph, but he'd sent it on further. allegations against the police in relation to the case are still being investigated. the commissioner, cressida dick, told us she recogni

the firm's founder sanjeev gupta sent a letter last week asking for help to pay day—to—day operatingberty steel ever since their financial backer went bust. it was only last week that sanjeev gupta asked the government for more funds to keep the company going and it should be a surprise that the steel industry is under such pressure and things like aerospace, one of their biggest customers, demand for some products is down as much as 60%. —— it should not be a surprise. we can talk more about this. chris mcdonald is the chief executive of materials processing institute and joins us now. how has cut liberty got this far down the line into this much trouble? . ., down the line into this much trouble? ., «i , ., ., down the line into this much trouble? ., ., ., trouble? thank you for asking me on. i think ou trouble? thank you for asking me on. i think you have _ trouble? thank you for asking me on. i think you have just _ trouble? thank you for asking me on. i think you have just put _ trouble? thank you for asking me on. i think you have just put your - i think you have just put your