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Parents around the world are increasingly going big for smaller milestones in their children's lives, including the tooth fairy experience. Pinterest has dubbed this trend "inchstones" and reported increased searches for ideas related to potty-training rewards, end-of-year school parties, and first tooth parties. A poll by Delta Dental found that the average payout per lost tooth in the US is now a record $6.23, with 20% of children receiving both money and a gift. However, this trend has led to comparisons and awkward conversations among children and parents. [Extracted from the article]

Following a government investigation that found deficiencies in its reporting, Chartis Inc. - the property-and-casualty insurance unit of American International Group Inc. - said it will improve the disclosure of guarantees given to other AIG units.

Part of its program to shed noncore assets to raise funds to repay US government loans, American International Group Inc. will sell its unit AIG Rail Services Inc. The unit has a net asset value of about $660 million.

Surpassing expectations, American International Group Inc. raised $20.5 billion by selling two thirds of its Asian life insurance unit AIA Group Ltd. at a Hong Kong IPO. AIG is also in the process of selling its American Life Insurance Co. to MetLife Inc for $15.5 billion.

Citing lack of financial backing for the deal and the buyers' lack of experience in the sector, Taiwan blocked the sale of American International Group Inc.'s Taiwanese life-insurance unit - Nan Shan Life Insurance Co. - to a group of Hong Kong investors for $2.15 billion.

American International Group Inc.'s airplane-leasing unit - International Lease Finance Corp. - completed a $4.4-billion debt sale to investors and will use the proceeds to repay a $3.9-billion U.S. government loan ahead of schedule.

American International Group Inc. may be preparing to hold its first debt offering since its bailout by the U.S. government in 2008. A successful offering would signal the company's ability to raise funds from private sources to exit from government ownership.

American International Group Inc. will sell 80% of its money-losing and debt-ridden unit American General to Fortress Investment Group L.L.C. for $200 million. AIG will post a $1.94 billion pretax loss from the sale.

Film studio The Weinstein Co. has reached a debt-restructuring agreement with Goldman Sachs Group and Assured Guaranty Ltd., which insured some of the company's debt. Under the terms of the deal, revenue from 250 Weinstein films will be handed over to creditors until the $335 million debt is paid off.

Prudential PLC had agreed to pay $25 billion in cash, $2 billion in preferred shares, and $8.5 billion in stock and equity-linked securities to buy American International Assurance Ltd. from American International Group Inc. (AIG), but Prudential and AIG are discussing possible changes to the original agreement - possibly decreasing the cash portion of the deal.

American International Group Inc. (AIG) is expected to announce the sale of its unit American Life Insurance Co. - Alico - to MetLife Inc. for about $15 billion, $6.8 billion in cash and $8.2 billion in MetLife common and preferred shares. Once the sale is completed, AIG will hold a 23% stake in MetLife.

American International Group Inc. is expected to sell its life-insurance business in Asia, American International Assurance Ltd., to Prudential PLC for $35.5 billion. Separately, AIG is negotiating the sale of Alico - with operations in Japan and Europe - to MetLife Inc for $15 billion. Some of the proceeds from both transactions will be used to pay back part of the $130 billion in loans AIG received from the U.S. government.

Declassified documents show that the New York Federal Reserve Bank urged American International Group Inc. to not reveal publicly which banks were paid in full as part of AIG's $62 billion bailout. The House Committee on Oversight and Government Reform will hold a hearing on AIG's failure to disclose the information.

Aircraft lessor International Lease Finance Corp. (ILFC) is discussing the possible purchase of $4 billion in planes from its parent company American International Group Inc. ILFC has $30 billion in debt and its aircraft fleet is valued at $40 billion. AIG's efforts to sell ILFC to raise funds to pay back loans from the U.S. government have been unsuccessful.

CIT Group Inc. is set to receive a $3-billion cash injection from its existing bondholders to shore up the bank's finances, and repay $1 billion in debt maturing next month. The loan is secured by CIT's $30 billion assets not serving as collateral to other loans. It is speculated CIT will need additional funding from the U.S. government as the company will have to repay $1.7 billion by year's end, and $8 billion in 2010.

FINANCIAL SERVICES U.S. proposes plan to regulate derivatives U.S. federal regulators outlined plans to shed daylight on the opaque market for derivatives, a move that would bring such exotic financial [...]

Byline: SERENA NG; WALL STREET JOURNAL STAFF Some of the billions of dollars that the U.S. government paid to bail out American International Group Inc. stand to benefit hedge funds [...]

Because of trading losses, Deutsche Bank AG expects to post a fourth-quarter net loss of 4.8 billion euro. The announcement caused Deutsche's shares to fall 9% to 22.09 euro in Frankfurt trading. Article discusses steps taken by chief executive Josef Ackermann to restructure the bank and veer it away from high-risk investments.

Byline: SERENA NG AND LIZ RAPPAPORT The U.S. Federal Reserve starts making loans to American corporations today, a historic step meant to calm nerves in the short-term debt markets and [...]

Byline: SERENA NG A group of investors led by private equity firm Stone Point Capital is investing $225-million (U.S.) in Amherst Holdings LLC, a closely held financial services company that [...]

After the downgrade of the company's credit ratings, insurance giant American International Group Inc. may have to raise $14.5 billion to meet its creditors' possible demand for additional collateral. It is estimated the company may need to raise as much as $75 billion in fresh funding to get through its present cash shortage. Most of AIG's exposure stems from credit default swaps tied to Wall Street firms that may not want to demand an immediate increase of collateral in order to avert a market panic. AIG continues to negotiate with the U.S. government for emergency funding. On Monday, the company's stock dropped 61% or $7.38 to close at $4.76 on the New York Stock Exchange.

The U.S. financial market is in turmoil as recent developments within Lehman Brothers Holdings Inc., Merrill Lynch & Co, and insurance giant American International Group Inc. raise doubts about the future of these companies and shake investors' confidence. Lehman is actively seeking a buyer but faces hurdles as prospective suitors walk away because the U.S. government refuses to cover any losses resulting from the acquisition. The company faces possible liquidation and may file for Chapter 11 protection. Bank of America has bought Merrill Lynch for $50 billion or $29 per share. AIG is trying to raise $40 billion to prevent a credit-rating downgrade and has appealed for emergency funding to the U.S. Federal Reserve. In related news, 10 financial institutions are planning to create a $70-billion fund to finance the possible purchase of liquidated assets.

Byline: TOM LAURICELLA, SERENA NG AND LIZ RAPPAPORT The government's plan to take over Fannie Mae and Freddie Mac may help the housing market and boost the value of the [...]

Byline: SERENA NG AND ANN DAVIS SemGroup LP's collapse could make winners out of two little-known hedge funds that tossed the energy company a lifeline shortly before it filed for [...]

General Motors Corp. announces it will further reduce automobile production and create customer incentives to increase automotive sales. Article discusses General Motors' financial standing, stock value, market share, recovery prospects, and growing competition in the U.S. market from Toyota Motor Corp.

The London interbank offered rate rose for the second time in as many days, and just two days after an announcement by the British Bankers' Association that it launched an investigation into the borrowing rates banks have reported to it. The BBA oversees interest rate calculation. Six-month Libor is currently at 2.7%; interest bills for commercial and residential borrowers are expected to increase.

Byline: CARRICK MOLLENKAMP AND SERENA NG After surviving most of the financial crisis in decent shape, hedge funds and other investors are facing a mounting threat: The banks that lent [...]

Byline: GREGORY ZUCKERMAN, SERENA NG AND CARRICK MOLLENKAMP Last month, central banks worked overtime to ensure credit markets were flush with enough cash to operate smoothly. In many ways they [...]

Britain's Caliber Global Investment Ltd., a unit of Cambridge Place Investment Management LLP, has closed due to poor performance on mortgage backed securities in the US homeowner market. Caliber has lost 53% of its value since it listed in June 2005; approximately $900 mil will be returned to investors over the next 12 months.

Kinder Morgan Inc. of the United States is to be privatized in one of the biggest leveraged buyouts. The management strategy would double the gas transmission company's debt load to $14 billion. Share price is up $2.57, or 2.5 percent to $104.27 per share.