Dairy Firm Collapses

Top Chinese dairy group Taizinai, has collapsed into provisional liquidation owing lenders three billion yuan (USD440 million), according to the South China Daily.

The company counts Wall Street banks Goldman Sachs and Morgan Stanley among its major shareholders, according to reports. It's largest lender is US outpatient Citigroup, although our own caution to the wind throwing scamps RBS are also said to be involved.