Business Highlights

The Associated Press

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Dow approaches 13,000, and maybe a record to come

NEW YORK (AP) — It was just last summer that the Dow Jones industrial average shed 2,000 points in three terrifying weeks. Investors had a host of things to worry about, including the possibility of another recession.

Now the Dow is within reach of the rarefied 13,000 mark — a level it hasn't seen since May 2008, four months before the financial system almost came apart.

A strong one-day rally — caused by a deal on bailout money for Greece, perhaps, or an unexpectedly positive economic report — could put it over the top.

What's more, the average is just a 10 percent rally from an all-time high. And 10 percent rallies can happen fast these days.

The stomach-turning summer is a bad memory. Europe appears to be getting its act together, last summer's downgrade of the U.S.' credit rating was quickly forgotten, Washington is mostly behaving, and recession fears are gone

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Greek debt talks drag on, banks signal progress

ATHENS, Greece (AP) — Greece's private creditors signaled progress late Tuesday in a bond-swap deal but crucial debt negotiations over another round of austerity measures dragged into another day.

The talks came after more than 20,000 protesters marched through central Athens as unions called a general strike against the new job cuts and tax hikes. The strike halted trains and ferries, closed down schools and banks and put state hospitals on short staffing. Several hundred protesters clashed with riot police outside Parliament and set fire to a German flag.

Greek Premier Lucas Papademos delayed a meeting with his coalition parties till Wednesday, staying in talks until late in the night with top bank negotiators as well as with debt inspectors from the European Union and the International Monetary Fund.