Business week in pictures

In another dramatic week for Barclays, ousted chief executive Bob Diamond was forced into giving up £20m of share options he was entitled to after quitting the bank – but came under immediate pressure to hand the remaining £2m of his payoff to charity Photograph: Stefan Rousseau/PA

As Barclays chairman Marcus Agius took his turn to face the Treasury select committee of MPs he revealed that the FSA had put pressure the bank over the Bob Diamond's position over the Libor ratings scandal, but that it was Bank of England's Sir Mervyn King that summoned directors and finally forced Diamond out Photograph: Ki Price/Reuters

Meanwhile across the Atlantic, the Senate banking committee and the House financial services committee were considering summoning Barclays' former boss Bob Diamond to Washington to answer questions about the Libor-fixing scandal, in a sign that the controversy is becoming an ever hotter issue in the US. Later in the week, investment banker and racehorse owner Rich Ricci became odds-on favourite to succeed Diamond at Barclays Photograph: Tim Ireland/PA

Britvic's reputation took a knock after new caps on its popular Robinsons Fruit Shoot children's drinks were faulty, triggering an expensive recall in the UK and France that could cost up to £25m Photograph: mediablitzimages (uk) Limited/Alamy

Samsung won a victory over Apple in the UK high court as part of its world-spanning battle over intellectual property and design after a judge ruled the design of its Galaxy Tab isn't cool enough to be confused with an iPad. Photograph: Lee Jin-man/AP

JJB, the sports clothing retailer, blamed poor sales on a wet summer and lack of footballing success in Euro 2012. It reported sales have fallen materially short of expectations' since last update in April Photograph: Matt Dunham/AP

Marks & Spencer's head of non-food, Kate Bostock, left as part of a top-level shakeup after one of worst trading periods in the past decade. Belinda Earl, best known for her time at Debenhams, has been given the task of making M&S clothes more appealing Photograph: Marks & Spencer

As the eurozone crisis continued, Spanish prime minister Mariano Rajoy announced sweeping cuts and tax hikes totalling €65bn (£51.2bn) in austerity measures that opposition politicians warned would sink Spain further into recession Photograph: Andrea Comas/Reuters

In a spectacular U-turn, Rajoy raised sales tax by three percentage points, contradicting his government's insistence that this would damage consumer spending, strangle growth and punish the poor. This came a day after eurozone ministers agreed a further €30bn bailout for Spanish banks and longer loan terms Photograph: Oli Scarff/Getty Images

In a show of strength against austerity measures, Spanish miners marched through Madrid to make it clear that they would not give up the struggle for the future of their collieries Photograph: Emilio Morenatti/AP

Some of the fastest-growing economies of the past 10 years are facing a sustained slowdown following the euro crisis and a sharp deterioration in the US economy, according to a report by HSBC. China and Brazil are among the hardest-hit economies as export orders decline and the fallout from the eurozone's spending cuts takes its toll Photograph: Reuters

In the UK, mobile network O2 faced an embarrassing 24 hours as its service suffered a blackout, with 3G services worst affected Photograph: Andy Hepburn/PA

French political leaders and unions were in a state of shock after carmaker PSA Peugeot Citroën announced it was shedding 8,000 jobs and closing a production line Photograph: Thibault Camus/AP

Britain put itself on a collision course with Argentina over disputed sovereignty of the Falkland Islands when it gave explicit support to a £600m plan by Premier Oil to develop oil reserves in the South Atlantic. BP meanwhile abandoned its controversial £1bn plan to drill for 100m barrels of oil off the coast of Alaska Photograph: Lewis Whyld/PA