Business week in pictures

In the eurozone crisis, Greek's radical leftist leader, Alexis Tsipras, failed in his attempt to form a government while declaring the bailout terms null and void and two German cabinet ministers for the first time spoke publicly of the possibility of Greece having to quit the eurozone Photograph: Louisa Gouliamaki/AFP/Getty Images

Spain's conservative government partly nationalised the country's fourth-largest bank, Bankia, after investors dumped Spanish bonds and stocks amid increasing worries about the country's banking sector Photograph: Andrea Comas/Reuters

In the UK, the Bank of England's interest rate setting committee has voted against increasing its £325bn programme of electronic money creation despite fears that Britain's fragile economy faces a long recession Photograph: Adrian Dennis/AFP/Getty Images

A record amount of rainfall in April put shoppers off revamping their summer wardrobes and stocking up on garden furniture. Consumer spending suffered one of the largest monthly falls since the height of the financial crisis in early 2009, which even a 5,000% increase in umbrella sales at John Lewis in the last week of April could not prevent Photograph: Matt Dunham/AP

US card giant American Greetings forced Clinton Cards into administration after taking over its bank loans and unexpectedly calling them in Photograph: Dominic Lipinski/PA

BT Group has rolled out fibre-based superfast broadband to an area covering 10 million homes eight months ahead of deadline, after hiring hundreds of extra engineers and drafting in ex-servicemen to boost its workforce Photograph: Gamma Ray Studio Inc./Getty Images

GlaxoSmithKline is pushing ahead with its $2.6bn (£1.6bn) hostile takeover bid for Human Genome Sciences, taking its offer directly to shareholders in the US biotech company. GSK and Human Genome jointly developed Benlysta, the first new treatment for lupus in half a century Photograph: Deco Images/Alamy

Japanese consumer electronics giant Sony posted a record net loss of ¥456.7bn (£3.6bn) for the year, hit by losses from its TV business, but forecast a return to profit at an operating level in the current year Photograph: Everett Kennedy Brown/EPA

Sainsbury's has signalled the end of the space race as it joined rival Tesco in announcing a slower pace of supermarket openings in the coming year Photograph: Gareth Cattermole/Getty Images

Anger over executive pay has escalated, claiming the scalp of the boss, Andrew Moss, of Britain's biggest insurance company, Aviva, and inspiring a shareholder revolt at the bookmaker William Hill Photograph: David Levenson/AFP/Getty Images

The high-cost lender Wonga is launching a business loans service, promising to make funds available within 15 minutes of an application Photograph: David Levene/David Levene