Daily Insider: Transnet strike is the last kick of a dying trade union horse

LATEST ON BIZNEWS RADIO: Meet Soweto's budding property mogul whose portfolio has the contracts, cash flow – but no bank finance (Click here to listen on Spotify).LATEST ON BIZNEWS.COM: .Chickens coming home to roost? Pfizer exec admits Covid-19 vaccine wasn't even tested to see if it would prevent transmissionJohannesburg – a tale of City corruption?Prof Colleen Aldous clarifies the outcome of the colon cancer study as positiveCrypTalk ep 9 – The likelihood of more Bitcoin volatility and the $100m Binance Bridge hackIntel shares slide and chip maker looks to lay off staff due to decreased chip demandInternational companies operating in South Africa are critical to the Growth storyThe ultimate victory of commercial interests over science – Prof Noakes on Ancel Keys' Cholesterol ConHinting at future nightmares – PANDA on Covid-19 vaccinesSchizophrenia, autism research may have found a promising new avenueAssupol – Not part of the flockRamaphosa's pork pies on police devolutionSA students in Russia stranded with government funding woesLondon remains a prime residential investment location.NB: Getting this newsletter second hand? Click here for your own copy. It's free and takes under a minute..There are two ways of viewing the current labour strike at Transnet, the country's State-owned rail and port monopoly..Pessimists will point to it as another example of a broken country. The better informed of them citing a Minerals Council's estimate of a R815m daily loss of foreign exchange from iron ore, coal, chrome, manganese, and ferrochrome exports. Apply the economy's multiplier effect via wages, procurement, taxes and profits and SA is clearly losing big time..Another way of observing the situation delivers a more hopeful conclusion. One which suggests Transnet's strike reaffirms further the spectacular failure of the ANC's 'Developmental State' fantasy. Better still, it supports a decision by government early last year to bring private sector operators into the rail network and SA's ports..Sure, Transnet's strike has dropped forex-earning exports to a fraction of the normal flow. But that's a temporary setback. Longer-term, the country is well advanced in removing the State's dead hand from absolute control of this critical economic artery. Efficient, well-resourced competitors will soon arrive. This is the last kick of a dying trade union horse. Hope springs..US Inflation sits at 8,2% as core prices hit four-decade high – with insight from The Wall Street JournalPan African Resources: Buy, hold or sell?Even a small nuclear test by North Korea would be a big US worryWho blew up Britain's pension funds? With insight from The Wall Street JournalFinancial Times perspective: Time for investors to learn a new gameBoardroom Talk: New BN portfolio holding FirstRand drops 6% on AR release day. No need to panic.What went wrong when Shoprite tried to push north.data-title=" CrypTalk ep 9 – The likelihood of more Bitcoin volatility and the $100m Binance Bridge hackIn this episode of CrypTalk, BizNews' Ross Sinclair and Jaltech's Gaurav Nair discuss the Binance Bridge hacks, the Celsius Network's data leaks, miners moving from the Ethereum chain to Bitcoin after the merge, the likelihood that Bitcoin will be more volatile in the future, and more about the tokens in the Jaltech Cryptocurrency basket. For more information about Jaltech: https://www.biznews.com/jaltech-cryptocurrency-notes.".To receive the Daily Insider every weekday at 6am in your inbox click here. You can also sign up to the weekend's BizNews Digest for a wrap of the best content BizNews has to offer, for a leisurely Saturday read.

Daily Insider: Transnet strike is the last kick of a dying trade union horse

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