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BUSINESS BRIEFLY

Amazon, Barnes & Noble cut prices on e-readers

NEW YORK (AP) -- A price war is heating up in the electronic reader market, as Amazon cut the price of its Kindle e-reader below $200 Monday just after Barnes & Noble did the same with its competing Nook device.

The rapid-fire moves are fanning flames in the still-small but rapidly growing market that the book industry sees as a major part of its future.

On Monday afternoon, online retailer Amazon.com Inc. slashed the price of the Kindle by $70 to $189, just a few hours after bookseller Barnes & Noble Inc. reduced the price of the Nook by $60 to $199 and said it also would start selling a new Nook with Wi-Fi access for $149.

Both the Kindle and the original Nook can wirelessly download books over high-speed data networks; the Nook also has Wi-Fi access.

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CNN drops content from AP

NEW YORK (AP) -- CNN said Monday that it no longer will use Associated Press content after the two sides could not agree on a contract extension.

The AP confirmed that the two news organizations differed on terms for licensing AP stories, photos, video and other content beyond the June 30 expiration of their contract. CNN has been an AP customer since the cable network launched in 1980.

AP and CNN officials would not comment on why the talks broke down or how much the expiring contract was worth. CNN spokesman Nigel Pritchard would say only that the terms AP was offering "did not fit our business model."

"We will no longer use AP materials or services," CNN Worldwide President Jim Walton told employees in an internal memo Monday.

CNN has a new arrangement with Reuters, an AP competitor owned by Thomson Reuters Corp., to supplement breaking news coverage, Walton said.

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Exhibit brews history

Something new is brewing at the Genesee Country Village & Museum.

The historical park's 19th-century Grieve's Brewery became operational over the weekend. The brewery's handmade copper and wood equipment has been on display since 1976, but now is used to demonstrate how beer was made 200 years ago.

"It hasn't functioned. But we said, 'Let's get this working again the way it's supposed to,' " said Peter Arnold, president of the museum in Mumford.

Through a partnership with nearby brewery Custom BrewCrafters, the museum will sell growlers and pints of 1803 Fat Ox Ale, a brown ale similar to what would have been produced in the 1700s and 1800s.

Using the same recipe demonstrated at the brewery exhibit, Custom BrewCrafters will produce the beer off-site, which will be sold at the museum's Depot Restaurant and Freight House Pub.

The batches made during demonstrations at the brewery will not result in actual beer production -- it will be dumped before being put through the fermentation process.

Cadillac adds free service

DETROIT (AP) -- The Cadillac luxury car brand says it will offer 2011 model year buyers free regular service for four years after purchase or for the first 50,000 miles.

The Cadillac Premium Care Maintenance program covers oil changes, tire rotations, filter changes and vehicle inspections.

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Teen clothing prices fall

CHICAGO -- It's a good time to shop for clothes for teens.

Average prices at teen retailers this month are at their lowest levels in almost a year, as stores "are heavy on promotions this month," according to Eric Beder, a Brean Murray Carret analyst who conducts a monthly pricing study on teen retailers.

Price levels reached a new low for the teen retailers that Brean tracks since it began the pricing study last August.

The study, conducted June 14 and 15, focuses on basic items, such as denim and graphic T-shirts, and then arrives at an average unit retail.

The average unit retail of all teen retailers this month was $26.58, down 3.9 percent from last month and 19.8 percent lower than the peak of $33.14 last November. -- Chicago Tribune

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