Briefcase: Microsoft offering updated version of Office

SAN FRANCISCO – Microsoft has released a major update for Office, one of its most successful software products, with new features that reflect the company’s effort to adapt to shifts in how people use computers and software.

The updated versions of Microsoft’s popular word-processing, spreadsheet and email programs are heavy on collaboration tools that let people share information and work together online. Multiple people will be able to edit the same document simultaneously. As you start typing on a Word document, for instance, the letters immediately appear on your collaborator’s screen with a flag showing you as the author.

Competitors including Google have offered this feature in their online editing software, and Microsoft has had a version in the Web version of Office. Microsoft executive Jared Spataro said it’s the first time it’s available in the more powerful stand-alone product.

The new Office also integrates with Microsoft’s Skype conferencing service and its Bing search engine.

Microsoft is also nudging customers to buy the new Office 2016 as part of an online subscription service, known as Office 365, as the traditional practice of selling one-time updates seems threatened.

BofA’s Moynihan will keep CEO, chairman positions

NEW YORK – Bank of America CEO Brian Moynihan will keep both his CEO and chairman positions following a Tuesday vote by shareholders.

It was a significant win for the bank, which had lobbied hard for the dual role.

Only 63 percent of eligible shareholders voted in favor, however, far from a solid majority, showing how far the bank must still go to win the trust of its investors.

In 2009, BofA’s shareholders voted to strip the chairman title from then-CEO Ken Lewis, partly as a vote of no-confidence following a series of bungled and controversial acquisitions, including the purchase of mortgage lender Countrywide Financial and the financial firm Merrill Lynch.

BofA’s board of directors reversed that shareholder vote last year, when they gave the chairman role to Moynihan, saying the combined role was more appropriate for how the company was being managed.

Groupon eliminates 1,100 jobs, cuts international operations

NEW YORK – Groupon is cutting 1,100 jobs in the coming year, roughly 10 percent of its workforce.

The e-commerce and online deals company said in a blog post Tuesday that the cuts are mainly in its international business. Having already closed its operations in Greece and Turkey, Groupon said it is also leaving Morocco, Panama, the Philippines, Puerto Rico, Taiwan, Thailand and Uruguay.

The Chicago company said it wants to focus its money and energy on fewer countries.

New York judge overturns ban on plastic foam containers

NEW YORK – A New York Supreme Court judge has overturned New York City’s ban on plastic foam containers such as egg cartons and to-go cups.

In a decision made public Tuesday, Margaret Chan found the city Department of Sanitation commissioner’s order banning the product to be arbitrary and capricious.

The ban was spearheaded by then-Mayor Michael Bloomberg and supported by current Mayor Bill de Blasio. It went into effect July 1.

Officials estimate 28,500 tons of plastic foam end up in city landfills every year.

Chan found the city could save $400,000 recycling 40 percent of its wasted plastic foam.