Business briefs: FAA orders new software for Boeing 777s

The FAA wants new software installed on Boeing 777s to prevent crew from inadvertently engaging the autopilot before takeoff. The problem can result in a high-speed rejected takeoff and increase the chance of a runway overrun. Boeing says the problem is rare — just nine reported instances of a rejected takeoff because of inadvertent engagement of the autopilot during the 777’s 15-year service history. There have been no runway overruns associated with the issue. The airworthiness directive is to be published in the Federal Register today. The rule, which applies to certain model 777-200, 777-200LR, 777-300, 777-300ER and 777F series airplanes, takes effect 15 days later. The 777 is a long-range, wide-body aircraft that seats more than 300 passengers.

Blizzards affect U.S. housing slump

Housing construction fell in February as winter blizzards held down activity in the Northeast and South. The decline highlighted the challenges facing builders as they struggle to emerge from the worst housing slump in decades. The Commerce Department said Tuesday that construction of new homes and apartments fell 5.9 percent in February to a seasonally adjusted annual rate of 575,000 units, slightly higher than the 570,000 that economists were expecting. January activity was revised up to a pace of 622,000 units, the strongest showing in 14 months. Economists characterized the February dip as weather-related although they said a 2010 housing rebound is likely to be modest given foreclosures and unemployment.

GE to increase dividend next year

General Electric Co. says it will increase its dividend in 2011, two years after the industrial and commercial conglomerate reduced it to save money as its financial arm struggled in the recession. Chief Financial Officer Keith Sherin told analysts at a conference Tuesday that the Fairfield, Conn., company is “not putting a number on it, but we do expect to grow the dividend in 2011.” The company also sees potential for retiring its preferred stock and opportunities for stock buybacks. GE cut its quarterly dividend in 2009 to 10 cents per share from 31 cents. It has remained at 10 cents per share since then.

Honda recalls many Odysseys, Elements

Honda Motor Co. will recall more than 410,000 Odyssey minivans and Element small trucks because of braking system problems that could make it tougher to stop the vehicle if not repaired. The recall includes 344,000 Odysseys and 68,000 Elements from the 2007 and 2008 model years. Honda said in a statement that over time, brake pedals can feel “soft” and must be pressed closer to the floor to stop the vehicles. Left unrepaired, the problem could cause loss of braking power and possibly a crash, Honda spokesman Chris Martin said. “It’s definitely not operating the way it should, and it’s safety systems, so it brings it to the recall status,” he said.

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