Business Digest, September 22, 2012

Lan Kwai Fong Holdings will expand into Wuxi city in Jiangsu province as the mainland's growing middle class demands more entertainment choices. The developer signed a memorandum of understanding with the city's government to jointly build a 140,000 square metre retail and restaurant complex, chairman Allan Zeman said. Bloomberg

Nomura, Japan's biggest brokerage, began eliminating about 30 per cent of jobs at its European, Middle East and African investment banking division this week, a person briefed on the plans said. The cuts mostly affect bankers in the advisory and industry coverage areas within the securities unit. Bloomberg