Money and Financial Lifestyle

A bankruptcy judge says GMAC can become Chrysler’s preferred lender. Pending the completion of certain documentation, U.S. Judge Arthur Gonzales on Tuesday approved the deal between Auburn Hills, Mich.-based Chrysler LLC and GMAC Financial Services.

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Judge OKs deal to make GMAC top Chrysler lender (AP)

Several large U.S. banks undertook big capital-raising efforts on Tuesday, hoping to satisfy regulators who want to see bigger cushions against a deep recession, or proof they have enough of a buffer already.

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BofA and other U.S. banks scramble for capital (Reuters)

General Electric Co plans to invest $100 million in a factory to build high-tech batteries for heavy equipment, which it believes could be a $1 billion business over the next decade.

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GE sees $1 billion potential in advanced batteries (Reuters)

Just seconds before the worst U.S. air crash in more than seven years, the pilot exclaimed “Jesus Christ” and moments later his first officer screamed as Continental Connection Flight 3407 plunged to the ground.

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Pilots shared fear of icy weather in last moments (AP)

Ford Motor Co.

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Ford offering 300M shares in public offering (AP)

Investor hopes that the U.S. recession may have bottomed out propelled oil prices well above $59 a barrel on Tuesday

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Oil above $59 on signs US recession is easing (AP)