Business week in pictures

Britain's economy finally clawed its way out of its deepest recession since the 1930s in the fourth quarter of 2009, but it only managed to expand by a much weaker-than-expected 0.1%
Photograph: Stefan Wermuth/Reuters

Bank of England rate-setter Andrew Sentance said the 'tailwind' strength of international economy, rising confidence and improving housing market will force up interest rates as the UK recovers. However, Andrew Haldane, the Bank's executive director for financial stability warned the UK's 'debt overhang' will take a long time to work off
Photograph: David Levene

The Church of England lost £40m from a disastrous investment in a buyout of two vast Manhattan housing complexes, Stuyvesant Town and Peter Cooper Village, that collapsed into default after struggling under huge debts incurred at the peak of the US property bubble
Photograph: Mario Tama/Getty Images

Tony Blair made himself even less popular with his old Labour colleagues as they continue to fight City bonuses. The former prime minister added to the £10m fortune he has made since leaving office by agreeing to become a paid speaker for Lansdowne Partners, a London-based hedge fund managed by a major Conservative party donor. The deal will potentially make him hundreds of thousands of pounds
Photograph: Todd Williamson/WireImage

A milestone in the film industry was reached as James Cameron's 3D spectacular Avatar became the biggest grossing film in history, passing the $1.843bn box-office record set by one of Cameron's previous films, Titanic
Photograph: AFP/Getty Images

After the previous week's sale of their company to Kraft, Cadbury's workers at Bournville protested. 'We're heart-broken, we believe we've been sold out', they said
Photograph: David Jones/PA

A poodle during grooming at a Pets at Home superstore in Stockport. A upward trend in sales of dog coats and other accessories help boost the value of pet chain store Pets at Home, which was snapped up by Boots-owner KKR for £955m after fierce competition among resurgent private equity houses
Photograph: Christopher Thomond

Speaking at the World Economic Forum in Davos, Financial Services Authority chairman Lord Turner called for the creation of a committee to have direct control of the supply of credit
Photograph: Andrew Harrer/Bloomberg via Getty Images

In Davos, Philip Jennings, general secretary of the UNI global union, said the pay gap between those running companies and their workforces had widened to 'unsustainable levels'. Jennings, who represents 20 million workers worldwide, called for executive salaries to be capped at 20 times the pay of the average worker
Photograph: Fabrice Coffrini/AFP/Getty Images

And World Trade Organisation chief Pascal Lamy said world leaders should learn from long-running global trade talks what is needed to prevent negotiations on climate change and financial regulation dragging out for many years
Photograph: Virginia Mayo/AP

The Russian businessman and London Evening Standard owner Alexander Lebedev is to sell his stake in the Russian airline Aeroflot for $400m (£247m), a cash-raising move that comes as he holds talks over the purchase of the Independent newspaper
Photograph: Anton Denisov/Ria Novosti/AFP

Bringing in a relative unknown, Morrisons supermarket appointed Irishman Dalton Philips, the chief operating officer of Canada's largest retailer, Loblaw, as the new chief executive of Britain's fourth-largest supermarket chain
Photograph: Darren Staples/Reuters

Struggling retailer JJB Sports announced that its rescuer chairman, Morrisons and Next veteran Sir David Jones would step down in March, while Olympic rowing medallist Matthew Pinsent would join the board to advise on sports trends
Photograph: Christopher Thomond

Car manufactuer Toyota announced plans to axe 750 jobs at its main UK factory in Burnaston. The company fights to preserve its reputation after safety problems, as millions of vehicles are recalled worldwide
Photograph: Brian Snyder/Reuters

Dairy firm Robert Wiseman announced that it would give £100 bonuses to each of its 3,500 staff as a reward for delivering through snowy conditions in early January to boost record sales
Photograph: John Giles/PA