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Why Sony has dumped Australia’s most powerful man in Aussie pop music

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Sony Music USA has booted out the most powerful man in Australian pop music from the company’s Australian arm

Sony Music Australia’s CEO Denis Handlin reportedly handed in his resignation after 37 years at the helm.

Staff were alerted of Handlin’s sudden departure this morning by a company-wide email from the Chairman and CEO of Sony Music Group USA, Rob Stringer.

The news comes as the record label continues its investigations into allegations of harassment and bullying.

In the email, Stringer says “Denis Handlin will be leaving Sony Music Entertainment after more than 50 years with the Company, effective immediately”.

Stringer continues by noting “it is time for a change in leadership and I will be making further announcements in terms of the new direction of the business in Australia and New Zealand in due course.”

An Australian news outlet reportedly reached out to Sony’s head office last week with multiple complaints from former employees.

The complaints, which are aimed broadly at the workplace culture rather than specific individuals, include allegations of sexual harassment at work events, intimidating behaviour, alcohol abuse and the unfair treatment of women in the workplace.

Those complaints span more than twenty years, according to reports.

None of the former Sony employees the source spoke to made any allegations of sexual harassment against Handlin himself, however, each had been critical of the company workplace culture.

Following months of investigating claims, the media source sent a letter detailing the allegations to the head office in New York on 14 June.

On Monday a statement was issued by the chairman of Sony Music Entertainment, Rob Stringer, saying Handlin would be leaving “effective immediately”.

Handlin has been the chief executive of Australia’s most successful record label for 37 years and its chairman since 1996.

He played a central role in the careers of some of Australia’s most celebrated artists, including John Farnham, Midnight Oil, Silverchair, Men at Work and Human Nature.

He is the Australian Recording Industry Association’s longest serving board member.

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Aussie job market defies expectations with stable 4.1% unemployment rate

Australia’s unemployment held at 4.1% in May amid job loss; full-time roles surged, underemployment fell, and female participation rose to 60.9%, keeping RBA cautious despite rate cut speculation.

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Australia’s unemployment held at 4.1% in May amid job loss; full-time roles surged, underemployment fell, and female participation rose to 60.9%, keeping RBA cautious despite rate cut speculation.


Australia’s unemployment rate held firm at 4.1% in May, despite a small drop of 2,500 jobs—falling short of forecasts.

But dig deeper: full-time jobs jumped by nearly 39,000, underemployment hit post-COVID lows, and female participation reached a record 60.9%.

With labour market resilience still strong, the Reserve Bank is unlikely to be swayed—though markets see an 80% chance of a July rate cut.

The RBA remains in a balancing act, cooling inflation, without choking growth.

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#RBA #JobsData #AustraliaEconomy #Unemployment #InterestRates #LabourMarket #tickernews

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Central banks struggle with economic uncertainty and rates

Central banks face challenges amid economic uncertainty, impacting policy decisions and investor confidence worldwide.

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Central banks face challenges amid economic uncertainty, impacting policy decisions and investor confidence worldwide.

In Short:
Central banks are grappling with economic uncertainty, prompting various interest rate cuts globally to stimulate growth. Many central banks, including those in Norway, Sweden, and Japan, are adjusting rates in response to inflation and trade concerns, while others like the Federal Reserve and the Bank of England are considering future cuts.

Central banks are facing significant uncertainty concerning economic growth and inflation, making their policy decisions increasingly challenging as they approach the end of their rate-cutting cycles.

This uncertainty is also impacting investors. Recently, Norway’s central bank surprised markets with an interest rate cut, while the U.S. Federal Reserve cautioned against relying heavily on its policy projections.

The Swiss National Bank responded to decreasing inflation and economic unpredictability by reducing its benchmark rate to 0% but may consider further cuts. The Bank of Canada has maintained its rate at 2.75%, suggesting a potential future cut in light of tariffs affecting the economy.

Sweden’s central bank cut its key rate as well, aiming to stimulate growth amid weak price pressures.

In New Zealand, expectations are for rates to remain steady after a recent reduction to protect its economy from global trade uncertainties. The European Central Bank has also cut rates, considering further adjustments to meet inflation goals.

The Federal Reserve is keeping rates steady, although further cuts are anticipated due to low inflation. In Britain, the Bank of England held rates but may continue cuts in response to weak labour indicators.

The Reserve Bank of Australia is prepared for rate cuts due to weak growth data and trade tensions, while Norway’s central bank has been cautious with its recent decision. The Bank of Japan remains the only bank in a tightening phase, balancing escalating tensions and tariff concerns with its monetary policies.

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Fed signals slower cuts amid rising risks

U.S. Federal Reserve revises economic forecasts downward, expecting growth slowdown and higher unemployment, but still plans rate cuts in 2024 and 2025.

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U.S. Federal Reserve revises economic forecasts downward, expecting growth slowdown and higher unemployment, but still plans rate cuts in 2024 and 2025.


At its latest meeting, the U.S. Federal Reserve revised its economic forecasts downward, with growth trimmed, inflation nudged up, and unemployment expectations now higher.

Despite this gloomier outlook, the Fed still sees two rate cuts in 2025, but just one in 2024 and one in 2026, a major dial-back from earlier projections.

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#FederalReserve #InterestRates #JeromePowell #Inflation #USEconomy #FedMeeting #tickernews

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