Business briefs | Bank of America reaches $335 million deal over loans

BofA reaches $335 million deal over loans

Bank of America agreed to pay $335 million to resolve allegations that its Countrywide unit engaged in a widespread pattern of discrimination against qualified African-American and Hispanic borrowers on home loans.

The settlement with the U.S. Justice Department was filed Wednesday with the Central District court of California and is subject to court approval. The DOJ says it's the largest settlement in history over residential fair lending practices.

Microsoft to showcase products at own shows

NEW YORK Microsoft Corp. is pulling out of the International Consumer Electronics Show, the largest trade show in the Americas. It's joining Apple in saying that it prefers to put on its own events when the time is right to show off its products.

Microsoft said the next show, to be held Jan. 9-12 in Las Vegas, will be the last show at which it has a booth or the CEO delivers the customary kick-off speech.

Company founder Bill Gates delivered keynote speeches at the show for 11 straight years.

New election rules set out for labor unions

WASHINGTON In a win for organized labor, the National Labor Relations Board on Wednesday approved sweeping new rules that would speed the pace of union elections, making it easier for unions to gain members at companies that have long rebuffed them.

Business groups quickly denounced the move, saying it limits the time that employers have to educate workers about the impact of joining a union. The U.S. Chamber of Commerce has already filed a federal lawsuit challenging the rules.

The rules, which take effect April 30, simplify procedures and reduce legal delays that can hold up union elections after employees at a work site gather enough signatures to form a union.

All Nippon to serve Seattle with Boeing 787

SAN JOSE, Calif. All Nippon Airways announced Wednesday that San Jose and Seattle will be the first destinations in the United States to see the new Boeing 787 Dreamliner, which will begin offering nonstop flights in 2012.

“Seattle is an important international business hub and home to companies such as Microsoft, Amazon and, of course, Boeing itself while San Jose is in the heart of Silicon Valley,” Shinichiro Ito, president and CEO of ANA Group, said in a statement. “Passenger demand to fly to both destinations is high, not only from Japan but from many Asian cities. The launch of these new services will make ANA the only Japanese airline to operate the two routes, as well as the only carrier to operate the Narita-San Jose route.”

The airline said the West Coast destinations will allow ANA to maximize the Boeing 787's efficiency and performance.

From wire reports