Two questions - (1) Can the word elderly be used to indicate an old person?

1) My dict points out:
elderly
n.
people who are old collectively

Example:
An elderly stands among the debris of his house in San Duo township after tornadoes swept across Gaoyou city in East China's Jiangsu province on July 7, 2013, injuring 53 people, four seriously. About 500 houses were destroyed, and power was cut. [Photo/Asianewsphoto]

http://www.chinadaily.com.cn/photo/2013-07/09/content_16753186_3.htm

It seems like only a plural form.

(2) Can the word business be referred to a house?

Example:
Debris is seen at a damaged business after a tornado hit the town of Mayflower, Arkansas around 7:30 pm CST, late April 27, 2014. Tornadoes ripped through the south-central United States on Sunday, killing at least 12 people in Arkansas and Oklahoma and wiping out entire neighborhoods of homes, according to officials, as rescue workers searched in darkness for survivors. In Mayflower, some of about 45 homes were destroyed in a newer subdivision and a lumberyard was damaged, said Will Elder, an alderman in the city of 2,300 people. [Photo/Agencies]

http://www.chinadaily.com.cn/world/2014-04/28/content_17471828.htm