More legal costs for big banks could top $100 billion
: U.S. banks might still be on the hook for more than $100 billion in additional fines and legal costs over bad mortgage loans sold during the financial crisis, according to a new estimate from credit rating agency Standard & Poor's. The cost estimate ranges from $55 billion to $105 billion, but S&P admits the final cost could fall either below or above that range.
ComScore expects U.S. e-commerce holiday sales to rise 16 percent
Reuters: ComScore Inc, an analytics firm whose data is closely watched by Wall Street, on Tuesday predicted that U.S. e-commerce sales will grow 16 percent to $55.2 billion this holiday season. The forecast echoes that of Forrester Research, which estimated that e-commerce will grow 15 percent.
Durable goods orders drop as U.S. shutdown hurts confidence
Bloomberg: Orders for U.S. durable goods dropped in October, reflecting a broad-based retreat and signaling that the partial government shutdown hurt business confidence. Bookings for goods meant to last at least three years decreased 2 percent, matching the median forecast of economists surveyed by Bloomberg, after a 4.1 percent gain in September that was larger than initially reported.