Business week in pictures

For the first time, the US dollar (briefly) achieved parity with its Australian equivalent. The move came as new action to boost the American economy prompted a blanket sell-off in the greenback. Ben Bernanke, chairman of the US Federal Reserve, triggered the decline when he used a speech to say that more quantitative easing was justified by high unemployment and low inflation Photograph: Sukree Sukplang/Reuters

Honor Blackman protests with pensioners from the Equitable Life Action Group in 2009. Early in the week it was rumoured that investors in the failed insurer Equitable Life were set to win a government compensation package of £1.5bn – more than three times the figure recommended by an official report. By Wednesday rumour became fact as George Osborne confirmed details in his spending review. Photograph: Andy Rain/EPA

A busy week for the chancellor, George Osborne, included his desire to ensure banks do not deprive the exchequer of billions of pounds of revenue. Barclays and HSBC are two of the banks still to formally sign a tax avoidance code. The code was designed by the Labour government following a series of articles in the Guardian highlighting the intricate but legal schemes used by banks to avoid paying tax. Royal Bank of Scotland was the only bank to confirm it had signed up to the code Photograph: David Moir/Reuters

Police officers guard the entrance to Downing Street, during a rally by thousands in central London to protest against government spending cuts. The chancellor, George Osborne, delivered his comprehensive spending review to parliament and among ambitious measures has bet that he can cut red tape, reduce the deficit without stifling growth and, crucially ... rely on the Bank of England to pump more cash into the economy Photograph: Lefteris Pitarakis/AP

The banking industry was facing up to a £2.5bn a year levy imposed on it by the Treasury as part of the coalition's comprehensive spending review. City minister Mark Hoban issued the legislation but there was quickly a suggestion that some of the major banks will be better off as a result of corporation tax cuts being implemented in the next four years Photograph: Luke MacGregor/Reuters

Another week with the focus on business headlines rather than popular beat combos or chart toppers for EMI as a legal battle began between Citigroup and Guy Hands's private equity group Terra Firma over the buyout of the music and entertainment company Photograph: Brendan Mcdermid/Reuters

The popularity of Apple's iPhone (despite the odd iPhone 4-related hiccup) and iPad have helped the technology company increase its quarterly profits and revenues. Profits rose by 70% to $4.31bn and revenues by 66% to $20.34bn. On revenues, Apple has now surpassed its biggest rival, Microsoft, and its chief executive, Steve Jobs, hinted the company may use its strong financial position to make a sizeable acquisition Photograph: Justin Sullivan/Getty Images

The combination of higher oil prices, increased fuel duty and the blockade of Marseille by French dock workers is expected to lead to petrol prices reaching an all-time high in the next few weeks. Oil prices have risen by $10 a barrel in the past month – which also happens to be how long the Marseille blockade has been in operation for Photograph: Anne-christine Poujoulat/AFP/Getty Images

Luxury retailers such as Versace, Burberry and Louis Vuitton are seeing a recovery in sales – dominated by the 'label lust' of Chinese consumers – according to a study by American consultancy Bain & Co. High-end goods such as designer handbags, watches and champagne are expected to surpass €170bn (£150bn) in 2011 Photograph: Alexander F. Yuan/AP

Mayfair may have to move over … as a Swiss village has become an unlikely rival by cutting its income tax rate in order to attract more hedge fund managers from London. The Swiss area of Höfe in Schwyz, which includes the village of Pfäffikon, plans to cut its basic tax rate from 17% to 15% next year Photograph: Alessandro Della Bella/EPA

British Airways chief executive Willie Walsh. An end may be in sight to the long-running industrial dispute involving British Airways, the airline's cabin crew workforce and the trade union Unite. Talks held with Acas, the conciliation service, have produced new proposals that could form the outline of a new peace offer Photograph: Lewis Whyld/PA

Show me the bunny, honey! 30 years after disappearing from London's nightlife scene, the Playboy brand could be returning to the capital as London Clubs International (LCI) is to convert the Rendezvous club, on Old Park Lane, into a Playboy franchise. LCI, which was acquired by Las Vegas gaming group Harrah's four years ago, could expand the club to include a cocktail bar, a disco and three private casino salons Photograph: Slim Aarons/Getty Images

French President Nicolas Sarkozy and German Chancellor Angela Merkel talk in Deauville, France. Strict new regulations devised to protect the euro against a similar kind of collapse it faced as a result of Greece's debt crisis have been 'softened' by an agreement between Germany and France. The move came one week before an important EU summit intended to ratify the regime of fines for countries breaking the eurozone's budget rules Photograph: Lucas Dolega/EPA

Mortgage lending has slumped to a 10-year low with figures described by one broker as a 'shocker' and forecasts that house prices could fall by as much as 10% next year. Homeowners are being deterred by spending cuts and fears over job losses Photograph: Christopher Furlong/Getty Images

Economic growth in China, the world's second largest economy, slowed to 9.6% in the third quarter while inflation rose to 3.6% in September. However, analysts claimed that the long-term outlook remained positive and the slowing was an example of the country's economy finding a more sustainable pace Photograph: Philippe Lopez/AFP/Getty Images