From “Leave It To Beaver”, this expression basically means pulling someone’s chain with deliberately provocative banter.
“Oh, you shouldn’t let that jerk Eddie Haskell get to you. He was just trying to give them the business. “
Usually a female that gives someone (usually a guy) great sex.
Girl: I'ma give you the business
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This is when you tear out all those business reply flyers in magazines and send them to your buds to piss them off.
Juan is being a jerk off so I will give him the business. Wait til he gets those magazines, and porn catalogs in the mail, hahaha. Asshole.
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Daniel: yo I'ma give her the business
Chenzo: sheesh bro 😎 I was doing the same thing to Monica last night