Week in pictures

The oil price will shoot back through $100 a barrel as soon as economic conditions return to normal, and will break through $200 threshold by 2030, say officials at the International Energy Agency Photograph: Pablo Krisch/AP

Diageo is to close half of its famous Guinness brewery in Dublin as part of a £520m modernisation plan that will cost hundreds of jobs. Read the article Photograph: John Cogill/AP

The great credit crisis has cost the world’s largest banks billions since it started in August 2007. UBS, the biggest casualty in Europe, admitted in early July that it faced further writedowns - estimated by analysts at $7.5bn (£3.8bn). It has already written off more than £18bn from its exposure to the US mortgage market. The losses cost chairman Marcel Ospel his job. Read the article Photograph: Graham Turner/Guardian

Y is for Yahoo: It was a busy year for the internet search engine Yahoo: a controversial $800m advertising deal with the rival company Google collapsed; the co-founder Jerry Yang stepped down as chief executive, and 1,500 jobs were slashed Photograph: Don Ryan/AP

Thousands of discarded computers from western Europe and the US arrive in the ports of west Africa every day, ending up in massive toxic dumps where children burn and pull them apart to extract metals for cash. Read the article Photograph: DanWatch and Consumers International

Irish flag carrier Aer Lingus has become the latest airline to hike charges in the face of surging fuel costs, raising bag check-in fees as the global oil price hit a new record. Read the article Photograph: Chris Bacon/PA

Mobile phone maker HTC has unveiled the next generation of its popular Touch device, the Touch Diamond, as the Taiwanese company looks to take on Apple's iPhone at the top end of the handset market. Read the article Photograph: PR

EasyJet confirmed that the brakes have been firmly applied to the astonishing growth of the low-budget business model by slashing a planned fleet increase due to high fuel costs and weakening demand Photograph: David Sillitoe/Guardian

The Carphone Warehouse is joining forces with US retail giant Best Buy in a £1.1bn deal to create a new player in the European consumer electronics market. Read the article Photograph: David Parry/Newscast

Hiroshi Yamauchi (left), the man credited with transforming Nintendo from a maker of card games into a multibillion-dollar videogame giant, is Japan's richest man with a net worth of $7.8bn (£4bn), according to Forbes magazine's annual rich list. Read the article Photograph: Shizuo Kambayashi/AP

A new mobile phone service aimed at the UK's burgeoning eastern European community has been unveiled as part of a drive by the new boss of Orange, Tom Alexander, to expand the UK's third largest network into new markets Photograph: David Devins/Newscast