Business week in pictures

Angela Merkel, the German chancellor, and Nicolas Sarkozy, the French president, held emergency talks in Frankfurt to try to cement a full-scale deal to save the eurozone from meltdown. As around 100,000 Greeks staged violent protests in Athens at the austerity measures being imposed to prevent their country sliding into bankruptcy, Sarkozy underlined the scale of the crisis by flying straight to Germany's financial capital rather than stay with his wife, Carla, for the birth of their first child. A pedestrian walks behind a broken shop window at Syntagma square in Athens Photograph: AP

The impact of public spending cuts is leading to a growing north-south divide in levels of business distress, according to a report by accountancy firm Begbies Traynor. Companies in the north-east, north-west, Yorkshire, the Midlands, the east of England and Wales face mounting financial pressure, while London and the south-east are getting off relatively lightly Photograph: Stefan Rousseau/PA

A 'bad luck generation' of young people scarred by soaring unemployment faces difficult years ahead and may resort to violence such as this summer's riots to vent its anger at governments worldwide, a new report warns Photograph: Leon Neal/AFP/Getty Images

UK retail sales unexpectedly picked up last month as laptops were snapped up for the start of term and new releases lifted video game sales but economists warned that the underlying picture remained bleak. The warm weather, as expected, appeared to hurt clothes sales. The ONS said textile, clothing and footwear sales volumes fell more in September 2011 than in any other retail sector. Pictured: Customers queue outside the Apple store in Covent Garden to buy an iPhone 4S Photograph: Oli Scarff/Getty Images

Catalogue chain Argos has blamed the squeeze on living standards faced by low-income families for a devastating collapse in trade that almost wiped out its first-half profits Photograph: Chris Ratcliffe/Bloomberg via Getty Images

Costa Coffee, the premium-priced espresso chain, has once gain posted roaring sales figures, leaving it one of the few high street retailers growing revenues at a faster rate than inflation Photograph: Phil Noble/Reuters

China's biggest producer of rare earths is suspending production for one month in hopes of boosting slumping prices of the exotic minerals used in mobile phones and other hi-tech products. Pictured: Pipes coming from a rare earth smelting plant spew polluted water on the outskirts of Baotou, Inner Mongolia Photograph: David Gray/Reuters

The rising value of the Swiss franc has catapulted the wealth of the average person in Switzerland to more than $500,000 (£320,000) – a first for any country – making residents the richest on the planet, according to the investment bank Credit Suisse. Pictured: Yachts in the harbour in Geneva Switzerland Photograph: Sisse Brimberg/National Geographic/Getty Images

LVMH, the world's largest luxury goods group, has reported bumper sales of Louis Vuitton handbags and Krug champagne in the latest sign that consumer confidence among the super rich remains robust Photograph: Mark Lennihan/AP

Philips, the Dutch electronics group, has underscored the harsh prospects for European industry by cutting 4,500 jobs as part of an €800m (£698m) savings programme Photograph: John MacDougall/AFP/Getty Images

G4S, the company formerly known as Group 4 Securicor, has announced plans to buy Danish rival ISS in a £5.2bn deal which will create one of the biggest companies in the world and its second biggest private employer. Pictured: Andy Murray is surrounded by G4S security guards at Wimbledon this year Photograph: Tom Jenkins for the Guardian

Bank of England policymakers are preparing for UK growth to almost grind to a halt and have discussed pumping even more electronic money into the economy than the £75bn they agreed on this month Photograph: Paul Hackett/Reuters

The world's biggest food group, Nestlé, has raised its sales growth outlook for the year after price rises and strong demand in emerging markets helped its underlying sales rise more than expected in the first nine months of 2011. Pictured: Nestle Chief Executive, Paul Bulcke Photograph: Eric Piermont/AFP/Getty Images