The shares of Zoom Video Communications (NASDAQ: ZM) dropped 6.14% lower at Monday's close compared to the day's open at $160.76.What Happened The drop came as the New York Times reported that the office of the New York Attorney General is probing the company's data privacy and security practices.In a letter to Zoom, the AG's office asked the telecommunications company what security measures it has taken in light of the increased traffic on its network, according to the Times.The office particularly expressed concerns around the company's policies around securing the privacy of primary and secondary school children, who are using its apps due to the lockdown imposed by the pandemic, the Times noted.Citing a report by Motherboard last week that said that Zoom shared customer data with Facebook Inc. (NASDAQ: FB) without explicit consent, James' office asked for "the categories of data that Zoom collects, as well as the purposes and...
(Bloomberg) -- Two decades since the euro began, one of the principal worries of its founders is materializing as the coronavirus rages through the region’s third-largest economy.The longstanding suspicion that Italy’s profligate borrowing could ultimately become the whole of Europe’s problem was the recurring nightmare of German finance officials throughout the 1990s.Now, as the crisis forces Giuseppe Conte’s government to jettison a decade of tightly capped Italian budget deficits, the country’s strategy for the future is once again built on piling up debt, sending its public borrowings swelling toward or even beyond 150% of gross domestic product.The increasing death toll from the virus and the economic fallout from the lockdown leave the government with no option but to spend more to help its people. But it’s having to deal with the unprecedented situation carrying an already huge debt load.The upshot is that Italy’s finances now depend wholly on the European Central...
(Bloomberg) -- U.S. equity futures and European stocks headed for a fifth increase in six sessions, spurring debate over whether the meltdown has ended given the continued spread of the coronavirus. Treasuries edged higher.Contracts on the three main American stock indexes turned from losses to gains overnight as political leaders contemplate a fourth round of stimulus. Battered travel and leisure shares led gains in the Stoxx Europe 600 Index after the World Health Organization said there are signs of some stabilization in the region’s coronavirus outbreak. Shares traded mixed in Asia, with markets rising in South Korea and Hong Kong as China reported stronger-than-anticipated manufacturing data.The dollar climbed for a second day against its biggest peers. West Texas crude oil rose after a three-day slump. The yen sank as the end of Japan’s fiscal year brought positioning adjustments. The ruling party proposed the country’s biggest-ever stimulus package worth 60 trillion yen...
