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TALKING POINTS

Imprivata moving headquarters to Waltham

Gus Malezis, president and CEO of Imprivata.
Gus Malezis, president and CEO of Imprivata.Fishbein by brian smith

IT SECURITY

Imprivata moving headquarters to Waltham

Imprivata will be adding its name to the list of corporate logos atop the buildings that line Route 128, with a newly announced move of its headquarters from Lexington to an office overlooking the highway in Waltham. Landlord Boston Properties disclosed that the health care IT security company signed a 75,000-square-foot lease for new office construction at 20 CityPoint, off Totten Pond Road. Gus Malezis, chief executive of Imprivata, said his firm will occupy the fifth and sixth floors of the building and get rooftop signage. Imprivata is moving from a 125,000-square-foot spot near the Bedford-Lexington line. The company was using just under 100,000 square feet in that location. Malezis said he wanted a more modern location, with more space for collaboration and more natural light, and he determined it was more cost effective to find a newly built office than to reconstruct the space where Imprivata has been located. Imprivata employs about 600 people, with roughly 300 based out of the headquarters. Malezis said he expects to have room to fit 270 at any one point in the new office, but many employees will work remotely on any given day. The company has been remote since the start of the COVID-19 pandemic, although Malezis said he hopes to start occupying the new office in August, and build up the in-office workforce over the next year. — JON CHESTO

E-COMMERCE

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Wayfair to hire 1,000 for engineering team

Online retailer Wayfair is going on a hiring spree to find engineering talent, although most of the 1,000 expected new hires for its engineering team will not be in its home city of Boston. The company announced plans on Wednesday to open three new engineering offices in the San Francisco Bay area, Austin, and Toronto, to augment its Boston headquarters and European hub in Berlin. The company plans to hire about 200 people to staff each of the new offices over the next year, with the remaining 400 joining the Boston or Berlin locations. A Wayfair spokesman said these hires will be for a mix of new jobs and existing positions that people have left, in technical roles such as software engineers, analysts, and data scientists. Wayfair employs more than 16,000 people, including more than 6,000 full-timers based out of Boston. — JON CHESTO

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AUTOMOTIVE

GM moves up timeline for electric Cadillac

General Motors has promised to recast the Cadillac brand with electric drive, and it’s in a hurry to do it: The Cadillac Lyriq EV will go into production almost a year sooner than originally planned when it hits showrooms in early 2022. The Lyriq will go on sale with a price of just under $60,000 with most options included and will kick off the GM luxury brand’s plan to go all-electric by 2030. If the market keeps embracing electric vehicles, Cadillac will ditch gasoline five years before the rest of the company. — BLOOMBERG NEWS

TRADEMARKS

Chanel loses logo fight with Huawei

Chanel lost a European Union court fight with Huawei Technologies to protect its famous logo of two intertwining half-rings. Judges ruled in favor of a bid by Huawei to get an EU-wide trademark for a logo, which the French maker of tweed suits and No. 5 perfume said was too similar to its logo. “The marks at issue share some similarities but their visual differences are significant,” the EU General Court in Luxembourg ruled on Wednesday. “In particular, Chanel’s marks have more rounded curves, thicker lines and a horizontal orientation, whereas the orientation of the Huawei mark is vertical.” — BLOOMBERG NEWS

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INVESTMENT BANKING

Chase to hire nearly 190 workers to help overworked junior bankers

JPMorgan Chase is adding almost 190 workers to its investment-banking ranks as Wall Street firms seek to ease the burden for junior bankers inundated with work during the pandemic. The largest US bank has hired 65 analysts and 22 associates globally, and is planning to hire 100 more bankers and support staff, according to a person familiar with the matter. Wall Street was set abuzz last month by an internal presentation from junior bankers at Goldman Sachs revealing their intense workloads, prompting firms to double down on efforts to lighten the load. Credit Suisse and Wells Fargo are among firms offering one-time bonuses, and Jefferies Financial Group said it’s awarding Peloton and Apple products to junior bankers. — BLOOMBERG NEWS

TECHNOLOGY

Amazon to use pay-by-palm payment method in select Whole Foods

Amazon is rolling out pay-by-palm technology at some Whole Foods grocery stores near its headquarters to make paying quicker and more convenient. The technology, called Amazon One, lets shoppers scan the palm of their hand and connect it to a credit card or Amazon account. After the initial set up, which Amazon says takes less than a minute, shoppers can scan their hand at the register to pay for groceries without having to open their wallets. — ASSOCIATED PRESS

INTERNATIONAL

British court says Russian billionaire’s son helped him hide assets in divorce

Britain’s high court ruled Wednesday that the son of a Russian billionaire conspired with his father to prevent his mother from getting her hands on what is believed to the country’s biggest ever divorce award, worth a tad more than 450 million pounds ($625 million). Tatiana Akhmedova, 48, accused her ex-husband, 65-year-old Farkhad Akhmedov, of hiding assets and that their 27-year-old son, Temur Akhmedov, worked with him in hiding those assets. The judge ruled Temur should pay his mother more than $100 million. — ASSOCIATED PRESS

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FISHERIES

Baby eels bring a gigantic price for Maine fishermen

Tiny baby eels are worth big bucks again in Maine. The state is home to the only significant fishery for the baby eels, which are called elvers, and it’s taking place right now. Prices tanked last year due to disruption to the worldwide economy caused by the onset of the coronavirus pandemic. But this year, the fishery is experiencing a return to normalcy. The tiny, wriggling fish are worth $1,632 per pound to fishermen, the Maine Department of Marine Resources reported on April 18. The elvers are worth so much because of the crucial role they play in Asian aquaculture. They’ve been worth between $1,300 and $2,400 per pound every year since 2015, except last year, when they were worth $525. — ASSOCIATED PRESS

AIRLINES

Projected losses widen as COVID continues to limit travel

The airline industry’s chief lobby group widened its estimate for losses this year by a quarter, saying new COVID-19 flare-ups and mutations have pushed back the timeline for a restart of global air travel. Carriers will lose $47 billion to $48 billion in 2021, the International Air Transport Association said Wednesday in an online presentation. It had earlier forecast a $38 billion deficit. IATA said the crucial summer season was at risk, and it sees 2021 seat capacity at 43 percent of 2019 levels, down from the 51 percent forecast in December. The downward pivot comes as airlines contend with new travel bans and restrictions arising from outbreaks in large aviation markets such as India and Brazil. This week, the US State Department said it would declare about 80 percent of the world’s nations no-go zones. — BLOOMBERG NEWS

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