Business week in pictures

George Osborne appointed Institute for Fiscal Studies director Robert Chote – a thorn in the side of present and previous governments – head of independent budgetary watchdog the Office for Budget Responsibility Photograph: David Sillitoe/Guardian

Defence giant BAE Systems announced it was cutting up to 946 positions – mostly in its military aircraft division, which makes parts for Tornados, Harrier and Hawk aircraft Photograph: Peter Macdiarmid/Rex Features

A notice is displayed in the window of an empty shop in Altrincham. Figures revealed the coalition government chalked up a record deficit in its first three months as it looked to shift the focus of economic growth towards exports Photograph: Phil Noble/Reuters

Fabrice Tourre is sworn in while testifying in April. Goldman Sachs was fined £17.5m by the Financial Services Authority for failing to tell the City watchdog when Tourre, the banker at the heart of the Abacus case, was accused of fraud by the Securities and Exchange Commission Photograph: Mark Wilson/Getty Images

One New Change, near to St Paul's Cathedral, is a shopping centre based in the City of London – which its backers hope will rival London's West End and Canary Wharf. It has been almost fully let to retailers Photograph: David Levene for the Guardian

Barclays PLC president Bob Diamond, centre, poses for photographs with current CEO John Varley, left, and chairman Marcus Agius near its Canary Wharf headquarters. American-born Diamond, the head of Barclays Capital, was named the new chief of Barclays bank – fuelling speculation the bank will become more focused on investment banking Photograph: Dylan Martinez/Reuters

In an internal report, BP accepted some blame for the Deepwater Horizon oil rig disaster – but said two other companies should bear some responsibility Photograph: KPA/Zuma/Rex Features

House prices edged up 0.2% – reversing most of the falls in the previous three months and leaving house prices at a similar level to the end of 2009 Photograph: Christopher Furlong/Getty Images

HSBC chairman Stephen Green said he was stepping down after 28 years at the bank to become trade minister in the coalition government
Photograph: Ben Stansall/AFP/Getty Images

Social housing firm Connaught, which employs around 10,000 people, went into administration after failing in a last-ditch attempt to secure more funds from its banks Photograph: PA

BA cabin crew and Unite union members arrive at Kempton racecourse, Surrey, for a union meeting wearing yellow as a sign of solidarity. Unite said British Airways staff may walk out at Christmas over changes to work practices, crew sackings and withdrawal of travel perks from striking staff Photograph: Ben Cawthra/INS News Agency Ltd

Britain's manufacturers reported strong exports during the summer, following better-than-expected growth in Germany and the eurozone markets Photograph: Reed Saxon/AP

A Google employee gives a demonstration of its new search enhancement, Google Instant, during a launch event in San Francisco. The firm is to face a competition enquiry in the US after being accused of reducing rivals' traffic by pushing them down search rankings Photograph: Justin Sullivan/Getty Images

A new Samsung 3DTV on sale at John Lewis. Half-year profits at John Lewis – driven by homewares and fashion sales – were back up to 2008 levels after crashing 50% to £20m last year Photograph: Jason Alden/Rex Features