Biz Buzz
NEW YORK
Ruling on commercial rent case
The state's top court says a landlord encroaching on only a minimal amount of a commercial tenant's space doesn't justify withholding rent. The Court of Appeals acknowledges long-standing case law that supports holding back the entire rent when the landlord's actions amount to "a partial eviction." But the court says the cross-braces installed by 210 East 86th Street Corp. so it could add two floors to its Manhattan building in 2002 took up only 12 square feet in a rental space of more than 15,000 square feet. The judges say that only "minimally impeded" foot traffic in Eastside Exhibition Corp.'s theater. The court ruled 6-to-1 Tuesday. The dissenter says the majority has thrown out a clear rule, replacing it with an unpredictable one that leaves tenants at a disadvantage.
New CEO at Johson & Johnson
Johnson & Johnson on Tuesday named Alex Gorsky to succeed chief executive William Weldon as the world's second-biggest health care company tries to rebound from recalls of products ranging from children's Tylenol to artificial hip implants. Gorsky, 51, will take over April 26 as only the ninth leader in J&J's 126-year history, the New Brunswick, N.J.-based company said in a statement. Gorsky, a graduate of the U.S. Military Academy at West Point and a former marathon runner, is currently vice-chairman for devices and supply chain. Weldon, 63, the departing chief executive, will remain board chairman.
Netflix reels in Web film rights
Netflix has locked up the right to show "The Artist" and other movies from The Weinstein Co. on its Internet video service before the films are released to the leading pay-TV channels. The multiyear deal announced Tuesday stocks Netflix with more artillery in its home entertainment battle versus premium cable channels, such as HBO and Showtime, and Internet video services provided by Amazon.com Inc. and Wal-Mart Stores Inc. Getting rights to fare such as "The Artist," nominated for 10 Academy Awards, may help Netflix keep subscribers happy as other popular selections disappear from its video library; the company will lose the rights to stream many movies from Walt Disney Co. and other studios when a licensing deal with Starz Entertainment expires next week. -- AP
WORLD
UN climate boss reaches out
As governments bicker over who should do what to slow the pace of global warming, the UN's climate chief is increasingly looking to business leaders to show the way forward to a low-carbon future. Christiana Figueres said Tuesday that her efforts to reach out to high-profile executives from companies such as Coca-Cola, Unilever and Virgin Group represent "a deeper recognition of the fact that the private sector can contribute in a decisive way." Since the start of 2012, the Costa Rican head of the UN climate agency has met with corporate leaders at the World Economic Forum in Davos and on a cruise to Antarctica organized by climate campaigner and former U.S. Vice President Al Gore. -- AP
