Business week in pictures

In a busy week for the retail sector, data revealed that sales climbed during November but shops still face a difficult Christmas as snow and plunging temperatures add to shoppers' worries about rising unemployment and the state of the economy Photograph: Paul Hackett/Reuters

Retailers are already cutting prices as they head into the busy Christmas period following concerns that government austerity measures and the VAT rise next month will persuade shoppers to stay away from the high street Photograph: Paul Hackett/Reuters

Hugh Harvey, chief executive officer of Comet, at the company's store near Croydon. Electricals retailer Comet revealed a slump in sales and increased losses as speculation grew that it could be split from its parent, Kesa Electricals Photograph: Martin Godwin for the Guardian

Shares in HMV plunged after it reported disappointing sales figures and warned that the icy weather was keeping customers away from its shops Photograph: Jason Alden/Bloomberg via Getty Images

But Tesco has stopped the rot in its UK business with the supermarket group reporting its first market share gain in six months as extra clubcard vouchers and "guerrilla" promotions on non-food ranges such as toys and clothing helped it to outflank rival Morrisons Photograph: Simon Dawson/Bloomberg via Getty Images

And there was good news for British fans of Hershey's Kisses. The US confectionery giant is launching a sales drive to put its chocolates into the hands of more European consumers Photograph: H. Mark Weidman Photography/Alamy

And Mulberry's luxury leather handbags are in big demand around the world, as the company increasingly becomes a global brand. During the six months to the end of September, it opened new stores in Hong Kong, Korea, Qatar and UAE Photograph: Suzanne Plunkett/Reuters

Ireland reluctantly began four years of tax rises and brutal cuts to social welfare after its parliament narrowly passed the harshest budget in the Republic's history Photograph: Cathal McNaughton/Reuters

But Allied Irish Banks is preparing to hand out €40m (£34m) of bonuses next week – despite being on the brink of receiving another emergency bailout from the Irish government Photograph: Cathal McNaughton/Reuters

WikiLeaks: The oil giant Shell claimed it had inserted staff into all the main ministries of the Nigerian government, giving it access to politicians' every move in the oil-rich Niger Delta, according to a leaked US diplomatic cable Photograph: Ed Kashi/Corbis

A Ryanair pilot who suggested that the airline replace its chief executive, Michael O'Leary, with a junior air steward has resigned after he was given a transfer from Provence to Kaunas, Lithuania (pictured) Photograph: Arco Images GmbH/Alamy

Defence company BAE Systems is set to deliver a pre-Christmas jobs blow by announcing cuts of up to 1,350 posts. The expected move follows the government's defence review and its decision to scrap the Nimrod and Harrier jets Photograph: Phil Noble/Reuters

The Bank of England has left interest rates unchanged at 0.5% for the 21st month in a row, as fears over the health of the UK economy continued to override concerns over inflation Photograph: Lefteris Pitarakis/AP