CUSHMAN & WAKEFIELD DEAL: Cushman & Wakefield has reached an agreement to acquire Burnham Real Estate, a large commercial real estate services firm based in San Diego. Financial terms were not disclosed. C&W said the deal is scheduled to close in January and will position it as the leading commercial real estate firm in San Diego. Burnham Real Estate, founded in 1891, has provided traditional brokerage, asset, capital markets and advisory services, and strategic corporate consulting and project management.
U.S. PASSES ON CHINA MOVE: The Treasury Department again resisted taking punitive action against China's currency policies, declining to accuse the economic giant of currency manipulation Wednesday despite pressure in Congress. In its semiannual review sent to Congress, the Treasury concluded that China did not meet the technical requirements for the designation of currency manipulation. Lawmakers repeated their calls for a bill aimed at China's currency next year. Congressional critics and domestic manufacturing groups contend that China keeps its currency artificially low, making goods 15 to 40 percent cheaper on the world market, putting U.S. producers at a competitive disadvantage and driving up the trade deficit.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)