Business week in pictures

Lloyd Blankfein, the chief executive of Goldman Sachs who once claimed he was doing 'God's work', saw his pay almost double in a year in which the bank's profits dropped 38%. But Goldmans is now being challenged over its pay policies by four orders of nuns who hold shares Photograph: Jemal Countess/Getty Images

The UK's construction industry continued to grow strongly in March, despite raw material costs rising again, according to figures from Markit and the Chartered Institute of Purchasing and Supply Photograph: Christopher Furlong/Getty Images

China raised its interest rates for the second time in 2011, adding to concerns that its economy is close to overheating. The People’s Bank of China increased the benchmark one-year deposit rate to 3.25% Photograph: Philippe Lopez/AFP/Getty Images

The administrators of the 89-branch off-licence chain Oddbins revealed they had been approached by a number of potential buyers and the 400 staff would continue to be paid Photograph: Christopher Thomond for the Guardian

Figures for Marks & Spencer’s first quarter were slightly better than analysts had expected but the retailer warned that pressure on disposable incomes and higher commodity prices would continue to make trading conditions difficult. The warning came a day after former Asda boss Andy Bond predicted two years of misery for high street retailers as the financial crisis finally hit home for consumers Photograph: Toby Melville/Reuters

Clothing chain American Apparel has been given until 30 April to prove it is a 'going concern' by banks who warn they will call in loans if it fails Photograph: Mario Anzuoni/Reuters

Budget talks between Barack Obama and House Speaker John Boehner (pictured, left) ended in deadlock. The president blamed politics and ideology for the failure to agree on cuts as the White House drew up detailed plans to shut down the federal government from Saturday involving the suspension of about 800,000 employees Photograph: Charles Dharapak/AP

The price of gold hit a record high – $1,458.80 per ounce – on Wednesday as precious metals soared in value, driven by a falling dollar and investors seeking traditional safe havens. Pictured: A gold-plated Infiniti luxury sports car, impounded after it was discovered by police that it had no registration, outside a jewellery store in Nanjing, China Photograph: AFP/Getty Images

Honda was forced to halve car production at its Swindon factory because the 11 March earthquake and tsunami has resulted in problems in the supply of parts from Japan. Nissan (pictured) then revealed it had been been forced to cancel some shifts at its Sunderland plant Photograph: Nigel Roddis/Reuters

The problems arising from the earthquake and tsunami in Japan were cited by the World Trade Organisation as one of the causes of a slowdown in trade growth, to 6.5% from 14.5% last year Photograph: Toru Hanai/Reuters

Portuguese prime minister José Sócrates addressed the nation on Wednesday to say the country needed a bailout due to its high debts and difficulty raising money on international markets Photograph: Armando Franca/AP