Week in pictures: August 3

Guy Hands' Terra Firma gained control of EMI. Photograph: Carl De Souza/Getty

Sir Alan Sugar, pictured here at the height of Amstrad's success in the 1980s, agreed to sell to BSkyB. He will stay on to work with the new owners. Photograph: PA

Christopher Bancroft opposed the sale of Wall Street Journal-owner Dow Jones to Rupert Murdoch's News Corp. The deal went through this week when Mr Murdoch got enough of the family to agree to sell. Photograph: Christopher Savoia/AP

BA was hit by record fines totalling almost £270m from the Office of Fair Trading and the US Department of Justice for fixing the price of fuel surcharges for long-haul passenger flights and its cargo business. Chief executive Willie Walsh said passengers had not been overcharged, but condemned the actions of a 'limited number of individuals' in the company. Photograph: Andy Rain/EPA

A trader on the New York Stock Exchange. Billions of pounds were wiped from the value of world stock markets. The turmoil began in the US late last week, then spread to Europe and Asia. Photograph: Justin Lane/EPA

The disgraced media mogul Conrad Black has failed in an attempt to persuade an American judge to let him return to his Canadian mansion until his sentencing for plundering millions of dollars from his Hollinger newspaper empire. The former Telegraph owner, who is confined to Chicago or Palm Beach, wanted to return to his home set in seven acres of grounds in an upmarket suburb of Toronto pending his likely imprisonment by US federal judge Amy St Eve in November. Photograph: Kamil Krzaczynski/EPA

It is as closely associated with Switzerland as the Matterhorn, muesli and the cuckoo clock. But the Swiss army knife is in danger of losing its Swiss identity. The production contract is being put out to tender, with the Chinese emerging as favourites. Photograph: Lina Nylind/Guardian

Unilever is launching a radical cost-cutting and disposal programme that will see the group shed 20,000 jobs, 11% of its workforce, and sell off previously untouchable jewels in its portfolio of brands. Photograph: Dan Chung/Guardian

The fickle forces of fashion have hurt the American bootmaker Timberland, which is facing a $100m (£49m) shortfall in sales as its chunky footwear loses out in a trend towards slimline shoes and trainers. Photograph: Linda Nylind/Guardian

The Big Five banks reported their first-half figures, with total profits coming in at more than £21bn. The consumer bank charges revolt cost them £399. Photograph: Graham Turner/Guardian