I've not heard of the word "Buisness" before, no. I have heard of "business", though.
You said the word "gay" derogatorily, and in my book that's a HUGE no no. You did it again EVEN AFTER I TOLD YOU NOT TO. What did you say when you were confronted the second time? "ooo, I did it again, didn't I?" Not a "Oh, sorry", not a "I'll never do it again, sorry". (If you said either one of those I would have gotten off your "case" as long as you were sincere.)
Usage of the word in that context shows immaturity, and I cannot respect anyone who uses it that way.
Moving on, though, what you might think is funny can be thought of as annoying/stupid by others. I know you're still fairly new, but people who act like you don't get respected by pretty much anyone here. It also sometimes leads to a ban.
So, either shape up, or ship out.