Traders were hopeful that Greece would avoid a default next month following news that the government was preparing to brief other European nations on the details of a debt restructuring deal. In energy trading, crude oil rose after Iran again threatened to cut off supplies to Europe. Natural gas prices fell 7.8 cents, or 3 percent, to end at $2.472 per 1,000 cubic feet.

Stock indexes closed higher Tuesday as Greece appeared close to announcing a deal with creditors to cut its debt. The Dow Jones industrial average ended at its highest level since May 2008. The Nasdaq composite rose 2.09 points, or 0.07 percent, to 2,904.08.

LOS ANGELES (AP) — The Walt Disney Co. said Tuesday that its net income rose 12 percent in the final quarter of 2011, as cost cutting helped the company top earnings forecasts even while revenue gains were less than expected. Interactive media revenue declined, too, as the company moved away from expensive console games and focused on cheaper-to-make social games.

WASHINGTON (AP) — Figures on government spending and debt (last six digits are eliminated). The government's fiscal year runs Oct. 1 through Sept. 30. Total public debt subject to limit Feb. 615,295,477Statutory debt limit16,394,000Total public debt outstanding Feb. 615,337,882Operating balance Feb. 683,328Interest fiscal year 2012 through December62,662Interest same period 201156,780Deficit fiscal year 2012 through December321,735Deficit same period 2011368,960Receipts fiscal year 2012 through December555,437Receipts same period 2011531,797Outlays fiscal year 2012 through December877,173Outlays same period 2011900,757Gold assets in January11,041

NEW YORK (AP) — The chief executive at Republic Airways Holdings Inc. says he's trying to make the airline's money-losing Frontier Airlines unit more like lower-cost rivals Spirit Airlines and Allegiant Travel Co. Chairman and CEO Bryan Bedford says he wants to continue cutting Frontier's costs as he gets it ready to be spun-off or sold, but he's not willing to start charging lots of new fees like rivals have done. In an interview with The Associated Press on Tuesday, Bedford said he doesn't plan to add new fees for carry-on bags, printing a boarding pass, or calling a reservation center. Allegiant and Spirit promote unusually low fares — Spirit has advertised flights for $9 — but tack on fees for items that travelers on other airlines would get for free. An example of a possible move Siegel will examine is replacing Frontier workers with contractors to handle ground duties in cities where Frontier might have only two or three arrivals per day, Bedford said. Ray Neidl, an aerospace analyst for Maxim Group, wrote on Tuesday that the regional airline industry is in the process of a major restructuring, and we only expect a few to survive.

Facebook has filed paperwork for an initial public offering of stock. Below is a look at how the stocks of some recently public companies are faring. — Zynga Inc., developer of online games, first day of trading on Dec. 16, 2011 — Jive Software Inc., creator of tools to run social networks for businesses, first day of trading on Dec. 13 — Pandora Media Inc., Internet radio company, first day of trading on June 15 — Demand Media Inc., online content publisher, first day of trading on Jan. 26, 2011

Yahoo's board had been facing pressure to push him out as its stock plunged to its lowest levels since early 2003 and well below Microsoft's last offer price. Chief Financial Officer Blake Jorgensen is pushed out, while Yahoo's chief technology officer and its top advertising executive in the United States get expanded duties. Yahoo hires a cost-cutting specialist, Tim Morse, as its new chief financial officer. At a shareholders meeting, Bartz seeks to assure investors that she will polish Yahoo's tarnished brand and end a three-year financial funk that has depressed the company's stock. Yahoo rolls out new tools to get people to the information they seek more quickly, especially when searching about entertainment, sports and major events. Yahoo makes a surprise disclosure that Alibaba Group, one of China's most powerful Internet companies, had spun off its online payment service, Alipay. Yahoo Chairman Roy Bostock seeks to defuse speculation about Bartz's job security at Yahoo's annual shareholders meeting, only to have it ignited again at the end of the session by an exasperated investor. Chairman Roy Bostock and three other longtime board members say they won't seek re-election to give Thompson an enhanced team of independent directors.

CHATTANOOGA, Tenn. (AP) — Volkswagen's Chattanooga plant has completed its 50,000th Passat, less than a year after production began. A company statement said Tuesday that the milestone was reached this week when a fully loaded, 2.5-liter, 170-horsepower Passat SE rolled off the line. The 50,000 vehicles include dealer experience cars, cars for export to Mexico and Canada and cars bound for the U.S. market. The plant completed its first customer car last April 18. Volkswagen announced recently that an additional 200 jobs would be created in at the Tennessee plant in addition to the 2,500-person workforce it employs now.