The BBA says the drop is the biggest since 1997 and indicates the downturn in the housing market is getting worse. The figures come as lenders tighten their mortgage criteria in the wake of the credit crunch. BBA director of statistics David Dooks Read More

SOUTHBRIDGE— Hyde Tools, a maker of hand tools for the paint, drywall and surface preparation markets, said yesterday it would lay off 14 employees, or about 7 percent of its work force. The 133-year-old family-owned business cited a declining Read More

This earnings season could be brutal for U.S. banks, the continuation of a banking crisis that could last for years. That’s the implication of a new report from Merrill Lynch ( MER ) analysts, who say large regional banks could see 2008 and 2009 Read More

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