Week in pictures: August 17

ICI, one of the grand names of British industry, is to become the latest blue-chip group to come under foreign ownership in a move that puts UK plants, offices and jobs at risk. Photograph: PR

InterContinental Hotels Group says it is certain to beat its target of adding 50,000 to 60,000 rooms to the business - already the largest hotel network in the world - by the end of 2008. Photograph: PR

Nokia has received around 100 reports of its phones short-circuiting while being charged. Photograph: PR

Shares in Northern Rock have now virtually halved since the beginning of February amid growing concern that it could be badly damaged by the global credit squeeze, making the mortgage lender one of the biggest losers in the battered banking sector. Photograph: Owen Humphreys/PA

Diane Greene, president and CEO of VMware - dubbed 'the new Google' - listens to NYSE CEO John Thain at the New York Stock Exchange during ceremonies for the company's initial public offering. The shares surged 86%. Photograph: Richard Drew/AP

Panicked traders in Sao Paulo followed US, Asian and European markets in fierce selloffs as indexes plummeted. Photograph: Mauricio Lima/AFP

Aer Lingus warned that it needs to cut costs across its business, raising fears of job losses, after plunging into a loss for the first half of this year Photograph: Chris Bacon/PA

Shares in Freddie Mac and Fannie Mae, the firms that finance more than half the mortgages in the United States, slumped amid renewed fears that Washington could be preparing an emergency bailout Photograph: Joe Raedle/Getty

Mattel is recalling over 18m magnetic toys manufactured in China because they pose a safety risk to children, its second product recall in a fortnight. Photograph: Frazer Harrison/Getty

Sales on the high street jumped unexpectedly last month despite prices rising at their fastest rate in a decade, helped by furniture, electricals and clothing Photograph: PR

Eddie Stobart, the UK haulage company famous for its lorries, is going public through a reverse takeover deal which values the business at £138m. Photograph: PA