Business week in pictures

George Osborne has signalled that the government will stick to its hardline deficit reduction strategy despite being forced to revise down his growth forecasts for the economy following the slowdown of recent months Photograph: Luke MacGregor/Reuters

The Bank of England resisted pressure for a fresh dose of electronic money to stimulate the economy on Thursday as it voted to leave UK interest rates unchanged again Photograph: Toby Melville/Reuters

Britain's fragile economy will remain close to stalling speed for the rest of the year, according to a new forecast by Paris-based thinktank the Organisation of Economic Co-operation and Development. Pictured: OECD chief economist, Pier Carlo Padoan, during a press conference Photograph: Thibault Camus/AP

One in seven shops on the high street is now boarded up, the victims of a faltering economy and the long-term trends towards online and out-of-town shopping. The title of worst-hit small town went to Leigh Park in Havant, overtaking Margate Photograph: Gary Calton for the Observer

Wandsworth in south London – once famous for its brewery dating back to Tudor times, now infamous for the traffic jams where two main roads converge on a narrow junction – has achieved the dubious distinction of becoming one of the most depressed high streets in Britain, with almost a third of its shops empty Photograph: Steve Lyne/Alamy

Dixons has been forced to cut costs in the face of falling sales and weakening margins as high street shoppers show increasing reluctance to splash out on expensive new electrical goods Photograph: Micha Theiner/City AM/Rex Features

The high street may be suffering as shoppers rein back their spending but consumers' economy measures have yet to extend to americanos and skinny lattes. Sales at the Costa coffee chain climbed 25% over the last six months Photograph: Simon Dawson/Bloomberg via Getty Images

Morrisons has hired Apple's former internet store director to help drive its long-awaited move online. Britain's fourth-largest supermarket chain announced on Thursday that Simon Thompson had been appointed managing director for Morrisons.com for food Photograph: Rex Features

Switzerland sparked fears of a new currency war after it pegged the Swiss franc against the euro in an attempt to protect its economy from the European debt crisis Photograph: Ennio Leanza/EPA

Dozens of French towns – including Saint-Tropez, the Mediterranean playground for the rich and famous – are struggling with loans pegged to the Swiss franc, whose 'safe haven' status has caused its value to soar as a result of the eurozone economic crisis. Pictured: Former French President Jacques Chirac poses for a photograph in St Tropez Photograph: Sipa Press/Rex Features

The last remaining postcode in the UK mainland without a Tesco supermarket is closer to losing its unusual status. Councillors in Harrogate, north Yorkshire, have voted in favour of a store which was first proposed by the company seven years ago on the derelict site of the town's former gasworks Photograph: Andy Drysdale/Rex Features

Tony Hayward has sealed a deal to exploit the oil fields of Iraq's Kurdistan region, landing the former BP boss an expected windfall of around £14m Photograph: Andrew Parsons/Parsons Media/Bloomberg via Getty Images

Yahoo has put itself up for sale, after firing its chief executive of 18 months Carol Bartz by phone Photograph: Robert Galbraith/Reuters