Business week in pictures

Ryanair flew 10% more passengers in the first quarter as it benefits from 'the recession in people's minds' – but fuel costs soared 49% Photograph: Anne-Christine Poujoulat/AFP/Getty Images

Citigroup announced that it is to sell internet bank and mortgage lender Egg to the Yorkshire for an undisclosed sum Photograph: Jim Wileman/Alamy

Can you really measure wellbeing and happiness? The Office for National Statistics published plans to measure how content we are. But how would they work? Photograph: Gen Nishino/Photographer's Choice/Getty Images

Moody's cut its credit rating for Greece by three notches – leaving it just one position above default Photograph: Louisa Gouliamaki/AFP/Getty Images

Ed Balls labelled chancellor George Osborne 'breathtakingly complacent' in an attack on government tax and spending plans Photograph: Christopher Furlong/Getty Images

Borrowing costs in Italy and Spain rose as the Greek bailout failed to quell fears that the eurozone crisis will spread. Above is Harry's Bar in Venice, where employees will be forced to take a cut in wages due to the financial crisis
Photograph: Marco Secchi/Getty Images

The UK's poor GDP figures for the second quarter were due to the royal wedding, an earthquake, hot weather, heavy snowfall and those Olympics … apparently Photograph: Anthony Charlton/AFP/Getty Images

GlaxoSmithKline's plans for expansion will see it pay more tax in the UK and deliver the prospect of new jobs Photograph: GlaxoSmithKline

There was embarrassment for US Congress speaker John Boehner after the budget office found a $350bn hole in his original proposal for the debt ceiling negotiations Photograph: Jim Lo Scalzo/EPA

ITV announced an interim dividend of 0.4p and plans to launch payment systems for its online ITV Player Photograph: Nick Lylak/Alamy

The housing market saw the highest number of unsold properties on estate agents' books for more than two years
Photograph: Graham Turner/The Guardian

Traders and clerks work at the London Metal Exchange. With no sign of a debt deal in Washington, investors scrabbled to sell shares when trading began in London Photograph: Paul Hackett/Reuters

'Centrica seems to benefit whether energy costs are high or low,' said Consumer Focus, after the energy giant and parent company to British Gas raised its dividend by 12%, despite customers facing a price hike in August Photograph: Darren Staples/Reuters

Weak exchange rates and the lingering effects of the recession continue to fuel the decline in overseas travel – but the winner was the UK tourism sector Photograph: Carl Court/AFP/Getty Images