First Direct announced today that they would no longer be offering any finance options for new mortgages. This move is in response to the failing housing market and overall economic uncertainty that is forcing many banks to rethink the ways that they do business.Chris Pilling, First Direct’s chief executive, said: “We’ve seen unprecedented demand for […]
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New York Finance Industry Hit Hard
Posted on April 2nd, 2008 by Bright Light
According to recent reports, it is expected that at least 20,000 people involved in the New York finance industry will lose their jobs thanks to the ongoing housing crisis and economic crunch. A new report was issued today that indicated the jobs will most likely be lost over the next two years as more banks […]
Central Banks Decides to Watch and Wait
Posted on April 2nd, 2008 by Bright Light
The Asian finance markets were hit hard on Monday following the announcement from Bear Stearns and the continuing problems in the finance market worldwide. Central banks throughout Asia have decided to adopt a wait and see mentality to figure out where the markets are going to go from here. India and Hong Kong has the […]
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