Business week in pictures

Labour's hopes that the 'feelgood factor' would flood back as the economy recovers received a fresh blow with news that the number of people claiming unemployment benefit has hit its highest level since 1997
Photograph: Oli Scarff/Getty Images

The 'God of Prosperity' blesses businesses along an ancient shopping street during a Chinese lunar new year parade in Beijing. China sold $34bn (£21.5bn) worth of US government bonds in December, raising fears that Beijing is using its financial muscle to signal that it has lost confidence in American economic policy
Photograph: AFP/Getty Images

Toyota is to install a brake-override system in all its future models after the embattled carmaker vowed to improve quality control amid the global recall of millions of defective vehicles
Photograph: Toru Hanai/Reuters

Phones are displayed at the Mobile World Congress in Barcelona, Spain. Google chief executive Eric Schmidt faced angry questioning from some in the industry who fear that Google is piggybacking on their massive investment in infrastructure
Photograph: Manu Fernandez/AP

At the event, Microsoft launched its Windows Phone Series 7, the result of a complete overhaul of Microsoft's vision of the mobile phone
Photograph: Albert Gea/Reuters

More than a dozen of the world's biggest mobile phone companies, including O2 and Orange, are hoping to strike back against the success of Apple in persuading people to download and use mobile applications – or 'apps' – by building their own competing open platform
Photograph: Manu Fernandez/AP

Trade minister Lord Davies waded into the row over City bonuses as he told bankers that the lessons from the financial crisis needed to be 'drilled into their skulls'
Photograph: Carl De Souza/AFP/Getty Images

His comments came in the same week that Barclays reported record profits
Photograph: Dan Kitwood/Getty Images

Its president Bob Diamond, who declined a bonus, called on people to celebrate the bank's 'remarkable' financial comeback
Photograph: Andy Rain/EPA

The Bank of England's monetary policy committee was unanimous in its decision to pause the quantitative easing (QE) programme and leave interest rates on hold this month
Photograph: Graeme Robertson

Mervyn King, the Bank's governor, was forced to write an explanatory letter to the chancellor, after official figures showed that inflation shot up to 3.5% last month - well above the government's 2% target
Photograph: Chris Radcliffe/PA

Domino's Pizza reported a 28% jump in annual profits as cold weather and recession put comfort food top of the menu
Photograph: Linda Nylind

Asda said it is creating 6,000 jobs this year as it expands its retail empire
Photograph: David Sillitoe

Car-parts chain Halfords has snapped up Nationwide Autocentres for £73.2m and announced plans to create more than 1,000 jobs over the next five years as it looks to grab a lucrative slice of the UK's car servicing and repair market
Photograph: Nicolas Loran/Getty Images