Business week in pictures

The Guardian lost a high court challenge to lift an emergency gagging order imposed on the publication of Barclays bank documents alleged to detail huge tax avoidance schemes. A sheaf of internal memos from the bank's structured finance department were published on, and then withdrawn from, the Guardian website early on Tuesday morning after lawyers for the bank obtained an emergency temporary injunction from a judge to have them removed Photograph: Julian Finney/Getty

Unemployment topped 2 million on the widest measure of joblessness, while the claimant count suffered its biggest jump on record. The Office for National Statistics confirmed unemployment rose to almost 2.03 million in the three months to January – the highest level in 12 years and a rise of 165,000 from the previous quarter Photograph: Matt Cardy/Getty Images

Banks, building societies and other financial firms could face fines and public censure by the City watchdog if they fail to comply with proposed new rules on pay, pensions and bonuses. Financial Services Authority chairman Lord Turner said the watchdog intends to oversee remuneration policies at 45 major firms as part of a sweeping review of banking regulation Photograph: Alastair Grant/AP

Markets soared after the Federal Reserve said it would spend an extra $1tn (£700bn) to resuscitate the recession-hit US economy, including buying billions of dollars of government debt in the drastic policy of 'quantitative easing' already adopted by the Bank of England Photograph: Scott Olson/Getty

The Competition Commission signalled the biggest shakeup in airport ownership in more than two decades tas it ordered BAA to sell three airports including Stansted and Gatwick after deciding that only radical action would improve air travel for long-suffering passengers Photograph: Graeme Robertson/Guardian

Shell announced it will no longer invest in renewable technologies such as wind, solar and hydro power because they are not economic. The Anglo-Dutch oil company said it plans to invest more in biofuels which environmental groups blame for driving up food prices and deforestation Photograph: Graeme Robertson/Guardian

BMW slashed pay after profits fell 78%. The German carmaker is cutting boardroom pay by 40%, executive pay by a third and employee wages and salaries by 10% Photograph: Michael Dalder/Reuters

Nokia is cutting another 1,700 jobs around the world, including an undisclosed number in the UK, as it slims down to cope with a fall in demand for mobile phones. The handset group plans to shed staff across its divisions, including sales and marketing, research and development and its corporate offices Photograph: Martti Kainulainen/Lehtikuva/Getty Images