European Central Bank President Mario Draghi said the bank needed to be on its guard against a "negative spiral" of low inflation that could drag down the economy — and it could engage in large-scale bond purchases to combat that if need be. Draghi's remarks at a conference in Sintra, Portugal, held out the prospect for action to stimulate the weak recovery at the ECB's next governing council meeting June 5.
Sony CEO Kaz Hirai says that his hands-on approach includes suggesting changes to movie endings and binge-watching television series that the company is involved in. "I spend a lot of time trying stuff out for myself," Hirai said at a roundtable at Sony's Tokyo headquarters on Monday. "I went to see the final edits for The Amazing Spider-Man 2 before it came out. Hirai explained, "Sony Entertainment CEO Michael Lynton and SPE co-chairman Amy Pascal just wanted to get my thoughts on a few things.
Pfizer quit its months-long pursuit of rival AstraZeneca Monday, officially declaring it does not intend to make a new offer after the British drugmaker's rejection of its $119 billion bid last week. Pfizer had described its latest offer as final and said it would not pursue a hostile deal if AstraZeneca declined to open formal negotiations. After it was rebuffed, Pfizer went public with a $100 billion cash-and-stock offer for the company in late April.
The Bank of Japan has begun shifting its focus from supporting growth to ways of phasing out its massive stimulus, taking first tentative steps towards a potentially momentous move for the world economy. Current and former central bankers familiar with internal discussions say an informal debate is under way on how to prepare for an exit from the BOJ's 13-month-old "quantitative and qualitative monetary easing.