(Bloomberg) -- Zoom Video Communications Inc. will offer full end-to-end encryption to all users, free and paid, succumbing to pressure from members of Congress and the public who pushed the video-conferencing company to bolster privacy.Those using the service at no charge will have to verify their phone numbers to get access to the strongest level of security, Zoom Chief Executive Officer Eric Yuan said Wednesday in a blog post. End-to-end encryption makes it impossible for third parties to decipher communications, but will mean that participants cannot call into a Zoom meeting on a telephone line.“We are also pleased to share that we have identified a path forward that balances the legitimate right of all users to privacy and the safety of users on our platform,” Yuan wrote. Verifying the identities of free participants will help the company combat abuse taking place on its platform, he added.The San Jose, California-based company said...
Last week, Hertz won bankruptcy court approval to sell up to $1 billion in stock. Clayton did not elaborate on what the issues were with Hertz's plan, but indicated that the company was unlikely to go through with the offering until those issues were resolved, according to CNBC. Hertz has warned that its shares would be eventually "worthless", but the stock sale could benefit creditors seeking to recover more of their claims during the bankruptcy process....
(Bloomberg) -- Hertz Global Holdings Inc. is facing questions from the U.S. Securities and Exchange Commission over its plans to sell as much as $500 million worth of stock that may be worthless in the midst of the car-rental company’s bankruptcy. The shares were halted Wednesday.“We have let the company know that we have comments on their disclosure,” SEC Chairman Jay Clayton said in a CNBC interview Wednesday. “In most cases when you let a company know that the SEC has comments on their disclosure, they do not go forward until those comments are resolved.”In its Monday disclosure announcing the proposed stock sale, Hertz said equity holders will not see a recovery from any bankruptcy plan unless those with more senior claims, including bondholders, are paid in full. The company said that would require a rapid and unanticipated improvement in its business outlook. The startling plan has captured the attention of...
(Bloomberg) -- Hertz Global Holdings Inc. is facing questions from the U.S. Securities and Exchange Commission over its plans to sell as much as $500 million worth of stock that may be worthless in the midst of the car-rental company’s bankruptcy. The shares were halted Wednesday. “We have let the company know that we have comments on their disclosure,” SEC Chairman Jay Clayton said in a CNBC interview Wednesday. “In most cases when you let a company know that the SEC has comments on their disclosure, they do not go forward until those comments are resolved.”In its Monday disclosure announcing the proposed stock sale, Hertz said equity holders will not see a recovery from any bankruptcy plan unless those with more senior claims, including bondholders, are paid in full. The company said that would require a rapid and unanticipated improvement in its business outlook. The startling plan has captured the attention...
