Bloomberg – American International Group Inc., the insurer bailed out by the U.S., benefited from hedge funds for the first time in a year as the company returned to profitability in the second quarter.

AIG earned $121 million from hedge funds in the period after the holdings cost the New York-based insurer $2 billion in the nine months ended March 31, the company said last week. Hedge fund at MetLife Inc., the biggest U.S. life insurer, also improved, beating the company’s forecast.

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Tags: aig, american international group inc, american-international-group, bloomberg, hedge fund, hedge funds, international-group-inc, life-insurer, metlife, metlife inc, nine-months, profitability, second-quarter

San Francisco Chronicle – Virgin America could not have picked a worse time to launch an airline, on the eve of gravity-defying fuel prices and a cruel recession. The financial numbers are still red after a year and a half of operations, but the chief executive sees a break in the clouds and profitability on the horizon for the only California-based airline.

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Tags: airline, break in the clouds, chief-executive, eve, fuel prices, gravity, horizon, profitability, recession, san francisco chronicle, virgin america