>Online video site starts a subscription service
LOS ANGELES (AP) -- Online video site Hulu, under pressure from its media company parents to generate a bigger profit, launched a subscription service Tuesday with complete access to back episodes of popular television shows.
For $9.99 a month, subscribers can get the entire current season of "Glee," "The Office," "House" and other shows from broadcasters ABC, Fox and NBC, as well as all the past seasons of several series. The popular, ad-supported Web site will continue to have a few recent episodes for free online.
In a surprise move, however, paying subscribers will get the same number of ads as users of the free Web site.
Hulu Chief Executive Jason Kilar said keeping ads was necessary to help keep the subscription price low.
>'Circuit breaker' halts trade
The New York Stock Exchange halted trading of Citigroup Inc. shares Tuesday under a new system of market curbs, after an error sent the stock sliding nearly 13 percent.
Citigroup shares dropped from $3.80 to $3.3174 at 1:03 p.m. EDT. The decline was more than 10 percent within a five-minute period and triggered new "circuit breakers" that halted trading for five minutes.
The erroneous trade was subsequently canceled, NYSE spokesman Ray Pellechia said.
The circuit breakers were recently put in place to prevent a repeat of the harrowing May 6 "flash crash." They cover all 500 stocks in the Standard & Poor's 500 index.
>Tesla Motors' debut strong
NEW YORK (AP) -- Shares of Tesla Motors Inc. gained more than 40 percent in their public trading debut on Tuesday after the electric car manufacturer raised more money than expected in its initial stock offering.
Investors snapped up Tesla's shares even as the broader markets took a beating. The stock soared $6.89, or 40.5 percent from its offering price, to close at $23.89 -- marking the second-biggest first-day gain among initial public offerings this year. Tesla's performance was a feat in a sour market that has forced many companies looking to raise funds through IPOs to accept lower prices to get deals done.
The IPO also came on a day when most U.S. stocks tumbled as signs of slowing economies from China to the U.S. spooked traders already uneasy about a global recovery. Broad indexes closed down about 3 percent with the Dow Jones industrial average dropping below 10,000 for the first time since June 10.
>Google cedes to threat
BEIJING (AP) -- Google Inc. said Tuesday it will stop automatically routing users in China to its Hong Kong site after Beijing threatened the company with the loss of its Internet license in their latest skirmish over censorship.
Google shut down its China-based search engine March 22 to avoid cooperating with the communist government's Internet censorship and has rerouted users to Hong Kong. But Google said regulators told the company its Internet license, which allows it to operate a music download service and other features in China, would not be renewed after it expires Wednesday if that tactic continues.
"They made it clear to us that they did not think the redirect was acceptable," said a Google spokeswoman, Jessica Powell. She declined to say what reasons the government gave for its objections.
The loss of permission to operate a China-based Web site would damage Google's access to an Internet market that already is the world's biggest and still growing fast, with 384 million people online at the end of 2009.
>Acquisition set Friday
Quad/Graphics' planned acquisition of World Color Press is set to be completed Friday.
Worldcolor, formerly known as Quebecor World, has received approval of the deal from the Canada Business Corporations Act from the Quebec Superior Court. And last week, Worldcolor shareholders backed the acquisition.
Wisconsin-based Quad/Graphics plans to become publicly traded starting July 6. Worldcolor has a printing plant in Depew.