Rover inquiry

ACCOUNTANTS Deloitte was facing an inquiry into its role as auditor and adviser to the collapsed car maker MG Rover.

The Accountancy Investigation & Discipline Board said it would focus initially on the audits of the 2003 accounts of MG Rover Group and its ultimate parent company, Phoenix Venture Holdings.

Deloitte, which changed its name from Deloitte & Touche 18 months ago, said it was disappointed by the announcement but said it would fully cooperate.

Retail reverse

HIGH street sales went into reverse last month as retailers suffered a loss of business in the wake of the London bombings, official figures showed today.

The Office for National Statistics said sales volumes were 0.3 per cent down on a month earlier in July, although analysts believed this figure was not as bad as feared and indicated the sector may be over the worst of its recent downturn.

More jobless

THE number of people claiming Jobseeker's Allowance has risen for the sixth month in a row - the longest stretch of increases in nearly 13 years, official figures showed.

The so-called claimant count rose by 2,800 in July to 866,000, an increase of 27,800 from a year ago.

Lending slows

MORTGAGE lending eased during July as the housing market stabilised and people waited for August's widely-anticipated interest rate cut, figures showed. today.