October 5, 2012
From Creamer Media in Johannesburg, I’m Motshabi Hoaeane.
Wage talks in the truck driver strike collapse.
US investigators visit the Libya compound where an ambassador was killed.
And, economic analyst Chris Hart says South Africans can expect a tough ride ahead as a result of strikes.
The Road Freight Employers Association says that wage talks to end a strike by more than 20 000 truck drivers in South Africa have collapsed. This follows the rejection of an 18% pay rise offer over two years by employers.
Fuel suppliers have started to feel the pinch as the strike entered its second week, with deliveries to pumps delayed and stations running out of certain types of fuel.
Libyan and US sources said that a team of US investigators travelled for the first time to the eastern Libyan city of Benghazi on Thursday to analyse the crime scene where a US ambassador was killed in an attack last month.
FBI agents were sent to Libya after the September 11 assault on the US diplomatic mission and a facility in which Ambassador Christopher Stevens and three other Americans were killed.
US Attorney General Eric Holder suggested the probe had been active despite
the weeks-long delay in getting FBI agents to Benghazi.
US Secretary of State Hillary Clinton vowed that every effort would be made to try to piece together a full account of the attack. However, she cautioned that it could take time for a complete picture to emerge.
Analysts say South Africans can expect a tough two years ahead as the economy feels the pinch of strikes.
Investment Solutions senior economist Chris Hart said that unless the country has sensible heads putting their hands up now, South Africa is going to see a downward spiral for the next few years.
The violent strikes in the mining and freight sector are destabilizing the country and could weaken the rand. The political uncertainty leading up to the African National Congress' elective conference in December is also a factor.
Economist Mike Schussler said that the length of the strikes is eroding investor confidence, which doesn’t bode well for job creation or output. He added that the labour market was unlikely to settle in the next two to three years, with job losses and closures predicted.
Also making headlines:
The United Nations says there is limited time to deal with Mali extremists.
Government expects a 'robust' South African Airways turnaround plan by the January 2013 deadline.
And, numerous African countries are forecast to be middle income by 2025 but poverty rates remain a major concern.
That’s a roundup of news making headlines today.