Business week in pictures

Vodafone has secured the right to sell the iPhone in the UK, just a day after Orange broke O2's two-year long exclusive grip on the device, in a move that is likely to lead to a price-war among the UK's three largest mobile phone networks Photograph: Graeme Robertson

Johan Dippenaar, Petra Diamonds chief executive, holds one of the 20 biggest ever rough diamonds to be discovered in South Africa. The white diamond, which weighs in at 507.55 carats (101.5g), was dug up at the historic Cullinan mine. Petra Diamonds, the AIM-listed company which announced the find, believes it is comparable with the previous huge diamonds from Cullinan, some of which form part of Britain's crown jewels Photograph: EPA

A sculpture by Chinese artist Chen Wenling on display at a gallery in Beijing, China. The bull represents the golden bull of Wall Street and the man pinned to the wall represents the jailed financier Bernard Madoff. The bankruptcy trustee picking apart Bernard Madoff's corrupt investment empire intends to sue the fraudster's sons, brother and niece for the recovery of nearly $200m (£126m) in ill-gotten gains as part of an attempt to recover funds for victims of Wall Street's biggest Ponzi scheme Photograph: Ng Han Guan/AP

Teenagers run in front of a store in Reykjavik centre. A year on from a ruinous banking crash, there are surprisingly few visible signs of the desperate financial straits in which Iceland's 315,000 inhabitants find themselves. Designer fashion shops, bars and restaurants on Laugavegur, the main shopping street in Reykjavik, continue to trade ‚ as do the city centre's boutique hotels, but a difficult future remain Photograph: Olivier Morin/AFP

Canary Wharf in London at dawn. Britain's five biggest banks have agreed to publish the total pay of their most important staff and spread bonus payments over three years, following an agreement hammered out with Alistair Darling based on new G20 rules aimed at stopping excessive deals Photograph: Tim Ireland/PA

Ryanair boss Micheal O'Leary arrives for a press conference to voice his support for the Lisbon Treaty in Dublin. Millions of Ryanair passengers face a mandatory £5 online check-in fee from Thursday 1 October as Europe's largest short-haul airline abolishes check-in desks. Passengers will now be forced to register for their flight online ‚ a privilege costing £5 a flight, or £10 for a return flight Photograph: Peter Muhly/AFP/Getty Images

A woman walks past a billboard featuring the China RMB Sovereign Bonds at Bank of China Tower in Hong Kong. The United States must brace itself for the dollar to be usurped as the world's reserve currency as American dominance wanes in the wake of the financial crisis, the World Bank president, Robert Zoellick, warned ahead of the World Bank/IMF annual meetings in Istanbul. He said it was time for a "responsible globalisation", in which decision-making was shared between the old powers and developing countries such as China and India Photograph: Kin Cheung/AP

A shopper leaves a John Lewis store in Leicester. Hundreds of jobs are at risk at the John Lewis department store chain after the employee-owned business, which has been battered by the recession, revealed plans today to shut its in-store call centres which comprise of 700 staff Photograph: Darren Staples/Reuters

A scaffolder at work on a building site. Six UK recruitment firms have been fined a total of £39m for operating a cartel that fixed fees and boycotted a new rival. The Office of Fair Trading announced that the companies breached competition law by collectively refusing to deal with another company, Parc UK, when supplying candidates to construction companies in the UK Photograph: Graham Turner/Guardian

Harrah's Las Vegas and Caesars Palace marquees on the Strip in Las Vegas, Nevada. Private-equity firms Texas Pacific Group and Apollo Managment bought out the casino company. Disgraced former Northern Rock boss, Adam Applegarth, who was heavily blamed for excessive lending before the financial crisis, has landed a job with private equity firm Apollo Management. Applegarth could actually end up advising Apollo on buying up portions of Northern Rock's distressed loan book Photograph: Ethan Miller/Getty Images North America