Here are the headlines from Monday's Bloomberg Market Report.
BP suffered a big loss in court Monday. A motion to dismiss a potential finding of gross negligence, in connection to the massive 2010 Gulf Oil Spill, has been denied. The decision means the British oil giant could be on the hook for more than $17 billion in fines.
College students are cutting down on their plastic usage. The number of undergrads with credit cards, between the ages of 18 and 24, dropped to 39 percent last year, compared to 49 percent in 2010. Experts say the decline could be a bad thing, since credit history is necessary to finance cars or secure apartment rentals.
It's not just basketball fans betting big on March Madness tournaments. A 30 second commercial in the NCAA Championship reached a record of more than $1.3 million last year. That is he third most costly in sports behind the Super Bowl and football division championship games.