Money

Zoom settles lawsuit over ‘Zoombombing’ and data privacy

Published

5 years ago

August 2, 2021

Zoom Video Communications Inc has agreed to pay tens of millions of dollars to settle a lawsuit over user privacy and “Zoombombing”.

Zoom exploded in popularity last year.

But alongside the surge in popularity, the company came under fire for a range of privacy issues, including the lack of end-to-end encryption on the platform.

The class action lawsuit was filed in March 2020, claiming that Zoom had shared personal data with Facebook, Google and Linkedin.

The video conferencing firm was also accused of failing to prevent hackers from interrupting online meetings, a phenomenon which became known as “Zoombombing”.

Zoom has denied any wrongdoing, but has agreed to pay US$85 million to settle the lawsuit. The company has also agreed to improve its security practices.

“The privacy and security of our users are top priorities for Zoom, and we take seriously the trust our users place in us.”
zoom statement

“We are proud of the advancements we have made to our platform, and look forward to continuing to innovate with privacy and security at the forefront,” Zoom said in a statement.

If the settlement is approved by a judge, subscribers in the class action would be eligible for 15% refunds on their subscriptions or $25, whichever is larger.

Those who did not pay for a subscription can make a claim for $15.

THE RISE OF THE VIDEO CALL

Zoom surged in popularity last year, as many people became reliant on video conferencing for not only work, but contact with their family and friends.

Zoom had 81,900 customers with more than 10 employees at the start of 2020. By April 2021, that number had since risen to 497,000.

The company’s boss has described 2020 as an “unprecedented year for Zoom”.

Eric Yuan believes we’re likely to see a hybrid work model post-COVID-19, as the “traditional way” no longer works.

“We are energised to help lead the evolution to hybrid work that allows greater flexibility, productivity, and happiness to both in-person and virtual connections,” Yuan says.

Money

Australian Dollar surges: What $0.70 means for markets

Australian dollar surges 5% to $0.70, impacting importers, exporters, and big miners amid rising interest rates.

Published

22 hours ago

February 18, 2026

Harvey Vargas

Australian dollar surges 5% to $0.70, impacting importers, exporters, and big miners amid rising interest rates.

The Australian dollar has jumped more than 5 percent against the U.S. dollar this year, now trading around $0.70. This rapid rise has sparked mixed reactions for importers and exporters as Australia’s materials sector shows signs of bouncing back, despite concerns over rising interest rates.

Dale Gilham from Wealth Within breaks down the factors behind the AUD surge, the implications for commodities, and what it means for big miners like BHP. From profits to strategy, we explore how the market is reacting to this currency shift.

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#AustralianDollar #AUD #Forex #Investing #Commodities #BHP #Mining #Markets

Money

S&P 500 rises as financial stocks lead and tech slips

S&P 500 rises 0.4% thanks to financial stocks; software struggles amidst AI concerns. Subscribe for updates!

Published

23 hours ago

February 18, 2026

Harvey Vargas

S&P 500 rises 0.4% thanks to financial stocks; software struggles amidst AI concerns. Subscribe for updates!

The S&P 500 climbed 0.4% on Tuesday, boosted by strong gains in financial stocks. Citigroup and JPMorgan led the rally, showing investors are rotating money into the sector as tech stocks faltered.

Meanwhile, software shares struggled, with ServiceNow, Autodesk, and Palo Alto Networks all seeing notable declines. Concerns around AI disruption continue to affect the software and financial sectors alike.

Market watchers are now turning their attention to upcoming inflation reports later this week, looking for signals that could shape the next moves in the market.

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Money

Australia’s GST debate heats up amid tax reform push

Australia debates GST expansion amid aging population pressures and personal income tax concerns; expert insights from Dr. Steven Enticott.

Published

2 days ago

February 17, 2026

Harvey Vargas

Australia debates GST expansion amid aging population pressures and personal income tax concerns; expert insights from Dr. Steven Enticott.

Australia is facing a fierce debate over tax reform, with fresh calls to broaden the Goods and Services Tax as the government searches for more stable revenue streams. With an ageing population putting pressure on health, pensions and long-term spending, economists argue the current reliance on personal income tax may not be sustainable.

Dr Steven Enticott from CIA Tax joins Ticker to break down the real impact of expanding the GST, including how it could affect lower-income households, whether taxing unrealised gains would change investor behaviour, and what compensation mechanisms could soften the blow on essential goods. The political risks are high, but so are the fiscal stakes.

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