Boxed wine in SA outsold bottles for the first time in 2020 â and canned wine is now also a thing Business Insider SA
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Some of the premium wines you can now buy in three-litre boxes from Woolworths.
Wines sales in South Africa fell by 20% last year amid restrictions on alcohol sales during the pandemic.
But so-called bag in box wine sales were more resilient than bottled wine, and outsold the latter for the first time ever.
South Africans also bought more than 69,000 litres of canned wine last year.
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Due to long bans on alcohol sales during the pandemic, South Africa wine sales in the local market shrank by a fifth last year – but so-called “bag in box” wines proved more resilient than bottled wine.
Robinhood’s CEO is not licensed by a powerful Wall Street regulator
Robinhood CEO Vlad Tenev is not licensed by FINRA, Wall Street’s powerful self-regulator, even though he presides over one of the nation’s largest and most powerful online brokers.
Tenev has emerged as the public face of Robinhood as the startup has come under fire for its decision, on one of the market’s most volatile days, to suspend buying of GameStop, AMC and other stocks boosted by an army of traders on Reddit.
Last week, Robinhood says it was blindsided by surging capital requirements from its clearinghouse. To meet those requirements, the app announced that it had raised $3.4 billion within four days to fund its explosive growth.
(Image courtesy of Robinhood Financial via Courthouse News)
(CN) Just one day after facing a groundbreaking suit over fiduciary duty, the stock-trading app Robinhood Financial reached a federal settlement Thursday over a practice said to have cost customers tens of millions of dollars.
The Securities and Exchange Commission went after Robinhood over a controversial practice called “payment for order flow” that allegedly has led users to pay more for stock they buy and get less money for stock they sell than they otherwise would have.
Undercutting the value of its commission-free trading system, Robinhood uses payment for order flow so that stock orders are routed to companies willing to compensate it for the work rather than the companies that offer the best available prices.
(Image courtesy of Robinhood Financial via Courthouse News)
BOSTON (CN) Robinhood Financial, the high-flying stock-trading app that’s hugely popular among millennials, was hit with a consumer-protection suit Wednesday by the state of Massachusetts.
Accusing the company of building its customer base even though it knew its infrastructure couldn’t keep up with it, the complaint notes that Robinhood suffered at least 70 system outages this year including one that lasted all day on March 2 when the Dow Jones Industrial Average had its largest point gain in history.
The complaint notes that Robinhood offers commission-free trades and uses inappropriate gimmicks to encourage its customers to trade constantly without any regard for whether the trades are suitable for them.