Business

Ten things you may have missed Wednesday from the world of business

Wall Street

ConforMIS rises 28% in stock market debut

Shares of ConforMIS Inc. rose 28 percent in their stock market debut Wednesday after the Bedford medical technology company raised $135 million in an initial public offering. ConforMIS, which makes knee replacement implants, sold nine million shares at $15 each. The stock rose to $19.25 by the end of trading, giving the company a market value of about $750 million. The company, founded in 2004 in Redwood City, Calif., moved to Massachusetts in 2008. It reported $48 million in sales and a loss of nearly $46 million last year. ConforMIS uses imaging technology to recreate the shape of patients’ joints before they developed arthritis. It is also developing implants for hips and other joints. — ROBERT WEISMAN

Media

Market Basket film due in fall

One of the most remarkable work stoppages in US labor history will be the subject of a documentary film. ‘‘Food Fight: Inside the Battle for Market Basket’’ is scheduled to be released in the fall, said director Jay Childs, a New Hampshire filmmaker who has been working on the project for two years. It’s about the yearslong power struggle between cousins Arthur T. Demoulas and Arthur S. Demoulas that came to a head last summer, when thousands of nonunion workers at the Tewksbury-based supermarket chain walked off the job — not seeking better pay or benefits but because they wanted their boss, Arthur T., back. — ASSOCIATED PRESS

Media

Coming: the ‘Monopoly’ movie

SANTA MONICA, Calif. — Uncle Pennybags is going to Hollywood. Lionsgate will turn Monopoly — the ubiquitous board game — into a feature film, in collaboration with toy maker Hasbro. The announcement follows the blockbuster success of ‘‘The Lego Movie,’’ which grossed more than $468 million. Other films, including the ‘‘Transformer’’ series, have also demonstrated the financial value of turning children’s toys into films. The ‘‘Monopoly’’ script will be penned by Andrew Niccol, who was nominated for an Academy Award for writing ‘‘The Truman Show.’’
— ASSOCIATED PRESS

Regulation

US sues to stop GE-Electrolux appliances deal

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NEW YORK — The US Department of Justice has sued to stop Electrolux from buying General Electric Co.’s appliance division, saying Electrolux would then dominate sales of ovens and other cooking-related appliances, especially to customers like home builders, property managers, hotels, and governments. GE and Electrolux said they will defend the $3.3 billion deal in court and aim to complete it this year. The government says the deal would leave Electrolux and Whirlpool as the only big companies in the United States that sell ovens and ranges. Electrolux sells most of its products under the Frigidaire brand. GE and Electrolux will argue that the competitive landscape of the past is very different from the one they are now facing as newer brands like Samsung and LG push into the US market. — ASSOCIATED PRESS

Transportation

Uber hits roadblocks in Brazil

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SAO PAULO — Uber, the ride-hailing service, is hitting roadblocks in Brazil. The city council in Sao Paulo, population 12 million, voted 48 to 1 to prohibit the use of smartphone-based ride apps like Uber’s. Brasilia, the nation’s capital, also approved a ban. Sao Paulo’s measure needs another vote and approval of the mayor before it can take effect. Brasilia’s measure now goes to the federal district governor for his approval. Cab drivers complain Uber is unfair competition because its drivers don’t pay city fees or undergo official inspections. — ASSOCIATED PRESS

Politics

Macy’s dumps Trump; Rapper and athlete bow out of Miss USA

NEW YORK —Rapper Flo Rida, Macy’s, and football Hall of Famer Emmitt Smith have something in common: They’re the latest to distance themselves from Donald Trump after his remarks about Mexican immigrants. The Republican presidential hopeful’s team is struggling to hold the July 12 Miss USA pageant together following defections by hosts, performers, judges, and two television networks. Trump owns the Miss USA and Miss Universe pageants. Flo Rida was scheduled to perform at Miss USA. Smith was to be a judge. Macy’s said it’s ‘‘disappointed and distressed’’ and will end its relationship with Trump; it has carried a Donald Trump menswear line since 2004. Trump’s campaign announcement contained his assertion that some Mexican immigrants bring drugs and some are rapists— ASSOCIATED PRESS

Biotechnology

Google apologizes for ‘gorilla’ labels

NEW YORK — Google continued to apologize Wednesday for a flaw in Google Photos, which was released to great fanfare in May, that led the new application to mistakenly label photos of black people as “gorillas.” The company said it had fixed the problem and was working to figure out exactly how it happened. “We’re appalled and genuinely sorry that this happened,” a Google representative said. “We are taking immediate action to prevent this type of result from appearing.” On Sunday, a Brooklyn software developer named Jacky Alciné, who is black, used Twitter to post an image that showed his Google Photos app had labeled a picture of Alciné and a friend as “gorillas.” He said he figured a Twitter post would lead to quick fix. Within an hour and a half, a Google engineer promised swift action. — NEW YORK TIMES

Biotechnology

Baxalta is building up Cambridge operations

Newly independent Baxalta Inc., formerly the biosciences arm of Baxter International Inc., is building up its new Cambridge research center, where its cancer therapy and business development operations also will be based. The company has hired about 200 scientists, researchers, and business professionals since it opened the site at 650 East Kendall St. last fall and expects to have 400 to 500 employees in place by year’s end, chief scientific officer John Orloff said. Baxalta will focus on cancer, hematology, and immunology drugs as well as biosimilars, generic versions of biotech medicines. It is collaborating with a pair of Cambridge biotechs just blocks away: Merrimack Pharmaceuticals Inc. on cancer therapies and Momenta Pharmaceuticals Inc. on biosimilars. — ROBERT WEISMAN

Investing

Bill Gross gets
a co-manager

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Bill Gross, who has been running the $1.5 billion Janus Global Unconstrained Bond Fund since leaving Pacific Investment Management Co. last year, is getting a co-manager. Janus Capital Group said that Kumar Palghat, who worked with Gross at PIMCO for 10 years, will help run the fund, with Gross as lead manager. Janus also bought a majority stake in Palghat’s firm, Kapstream Capital, a global unconstrained fixed income manager with $6.6 billion in assets. — BLOOMBERG NEWS

Energy

Ground broken for wind farm

A developer has broken ground on a wind farm in Central Maine that’s expected to power 65,000 homes. SunEdison, the Missouri solar energy company that purchased the Boston wind developer First Wind last year, said it has completed financing and started construction on the 85-megawatt wind farm near Bingham. First Wind was previously the developer. SunEdison expects to spend $420 million on the 56-turbine project and has $360 million in loans. The utilities Eversource, National Grid, and Unitil will buy power generated by the farm under 15-year agreements.
— JACK NEWSHAM