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Assured in Its Impunity, the Myanmar Junta Ignores Diplomacy

Richard C. Paddock and

Western powers have imposed sanctions. Neighboring countries have implored the military to restore democracy. More than 200 human rights groups have called for an arms embargo. And last week, the United Nations General Assembly adopted a blunt rebuke aimed at isolating the generals.

The diplomatic pressure has done little to change the situation in Myanmar.

The military dictatorship now ruling the Southeast Asian nation has brushed aside the entreaties and threats, even as the country of 54 million people hurtles toward paralysis and possibly civil war that could destabilize the region. Confident in its impunity after a Feb. 1 coup, the putschists have stretched diplomacy to its limit.

Not initially. Many people in Myanmar had hoped for intervention by the United Nations or perhaps the United States in the period immediately following the coup, which upended a November election victory by the civilian leadership and escalated into a brutal repression. Pro-democracy protesters carried signs that read “R2P,” or “Responsibility to Protect,” referring to a 2005 United Nations doctrine affirming the responsibility of nations to protect populations from such egregious crimes.

But diplomatic efforts at the United Nations and the Association of Southeast Asian Nations, the 10-nation regional body known as ASEAN, have largely fizzled.

The country, formerly known as Burma, was run by the military for decades after a coup in 1962, and the generals in charge never really embraced the idea of democracy. The Constitution they adopted in 2008 paved the way for the election of civilian leaders but ensured the military’s complete autonomy and veto-power over major constitutional amendments.

Thant Myint-U, an American-born Burmese historian and grandson of U Thant, the former United Nations secretary general, wrote in a recent edition of Foreign Affairs that the Myanmar army’s need for total power is ingrained.

“It is led by an officer corps that cannot imagine a Myanmar in which the military is not ultimately in control,” he wrote.

The coup leader, Senior Gen. Min Aung Hlaing, appears to have secured vitally important allies — China and Russia — insulating Myanmar from any interventionist steps. The general also oversees a powerful patronage network built around two military-owned conglomerates and his family’s businesses. A democratic system could imperil them.

The United Nations Security Council, the 15-member body that is empowered to take coercive action, has issued only mildly worded criticisms since the coup, at least partly reflecting resistance to anything stronger by China and Russia. Chinese diplomats have recently referred to Gen. Min Aung Hlaing as Myanmar’s leader. He also was treated well in a visit to Russia this week.

Human rights activists have expressed exasperation at what they view as the Security Council’s failure on Myanmar.

“The council’s occasional statements of concern in the face of the military’s violent repression of largely peaceful protesters is the diplomatic equivalent of shrugging their shoulders and walking away,” Louis Charbonneau, the U.N. director at Human Rights Watch, said last month in joining more than 200 other groups in demanding the council impose an arms embargo.

The General Assembly adopted a resolution denouncing the coup on Friday, an exceedingly rare gesture that grew partly out of the Security Council’s inaction, and it was deemed a success by Western diplomats who said Myanmar’s military had now been ostracized.

But the resolution’s language was weakened to ensure more yes votes — and even then, 36 countries abstained. Analysts said the vote was unlikely to persuade the junta to negotiate with its domestic adversaries.

Nonetheless, said Richard Gowan, the U.N. director at the International Crisis Group, the resolution was “at least a clear signal of international disapproval for the coup and will make it harder for the junta to normalize its relations with the outside world.”

ASEAN, which includes Myanmar, has tried to mediate. But its efforts have done more to help Gen. Min Aung Hlaing consolidate his authority than to restore democracy.

The military’s takeover compelled ASEAN to convene a meeting in April, to which they invited Gen. Min Aung Hlaing.

ASEAN practices noninterference in the internal affairs of members and did not formally recognize the general as Myanmar’s new leader. But his red-carpet arrival for the meeting, held in Jakarta, the Indonesian capital, was repeatedly trumpeted by Myanmar’s state-run media as recognition of his leadership.

ASEAN conspicuously did not invite anyone to represent the deposed leadership, which now calls itself the National Unity Government, or anyone else from the pro-democracy movement.

The leaders agreed on what they called a “Five-Point Consensus,” including the immediate cessation of violence, constructive dialogue to find a peaceful solution and ASEAN’s appointment of a special envoy to facilitate mediation.

While member nations Indonesia, Malaysia and Singapore pushed for ASEAN to take firm action, strong measures were resisted by Thailand, said Aaron Connelly, a research fellow at the International Institute for Strategic Studies in Singapore. (Thailand’s government is headed by a former general who took power in a 2014 coup.)

The consensus made no mention of freeing political prisoners, who now number more than 5,000 and include the country’s elected civilian leader, Daw Aung San Suu Kyi. Ms. Aung San Suu Kyi would normally have attended such a meeting.

ASEAN has yet to name the special envoy. So far, the main outcome of ASEAN’s diplomatic effort has been to damage its own credibility. Myanmar protesters have been burning the ASEAN flag at demonstrations.

The winners of the November election were scheduled to be sworn into office on Feb. 1. But that morning, soldiers swept through the capital city, Naypyidaw, and arrested many of the elected officials. Some who escaped have since formed the National Unity Government, which has declared itself Myanmar’s legitimate government.

Myanmar’s ambassador to the United Nations, U Kyaw Moe Tun, who refused to cooperate with the junta, now represents the National Unity Government. While the world body continues to regard him as Myanmar’s ambassador, no country has formally recognized the National Unity Government.

In a departure from the stance of Ms. Aung San Suu Kyi, the National Unity Government has formed alliances with ethnic armed groups that have long battled the Myanmar military. And in a move that could win support from Western countries, the National Unity Government has called for ending discrimination in the country, and for the Rohingya to receive full citizenship. The persecuted Muslim minority was targeted by the military in a ruthless campaign of ethnic cleansing that forced more than 700,000 people to flee to Bangladesh.

Seeing futility in diplomacy, the National Unity Government also has formed an army that has made small-scale attacks against pro-military targets, raising the prospect that Myanmar could face a protracted civil war.

Christine Schraner Burgener, the U.N. special envoy for Myanmar, who has repeatedly been blocked from visiting the country, warned of increased violence in remarks to the General Assembly after its recent vote. “Time is of the essence,” she said. “When we look back in 10 years, we should not regret having missed an opportunity to put this country back on the path of democracy.”

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Health

Authorities assured of reaching vaccine goal

The Indian government is confident that the country will be able to meet an ambitious target of having more than 2 billion coronavirus vaccine doses by the end of the year, Civil Aviation Minister Hardeep Singh Puri said.

Last month, Health Minister Harsh Vardhan said in a statement that India will have 516 million vaccine doses by July, including shots already administered, and that the number will rise to 2.16 billion doses between August and December.

“We have paid the two existing domestic manufacturers, Serum Institute (of India) and Bharat Biotech, advance money to produce vaccines for the whole of May, June, and July. We are only past May,” Puri told CNBC’s Tanvir Gill in an interview. He explained that the government is also in advanced stages of talks with other vaccine manufacturers.

The government is “absolutely confident of being able to meet this target by December,” Puri added.

In its forecast, the Indian government expects about 750 million doses of the AstraZeneca vaccine that is being locally produced by the Serum Institute of India and is known as Covishield. Another 550 million doses of Covaxin, which is developed and produced by Indian company Bharat Biotech, are also expected.

People walking past a wall mural depicting medical staff hitting the coronavirus with vaccine needle at Santacruz on March 29, 2021 in Mumbai, India.

Pratik Chorge | Hindustan Times | Getty Images

Both vaccines are being currently used in India’s inoculation campaign where more than 222 million doses have been administered as of Thursday — but a majority of them are first of the two doses required for immunity.

Russia’s Sputnik vaccine — the third shot to get approved — will contribute about 156 million to the predicted tally. Reuters reported that six Indian companies have already signed deals to produce around 1 billion doses of the vaccine annually and that Serum Institute is also seeking approval to make it.

The government also expects:

In addition, India has also authorized foreign-made vaccines that have been granted emergency approval by the U.S., U.K., European Union, Japan and World Health Organization-listed agencies.

Vaccines, the way forward

Experts agree that vaccination is the way forward for India — both to bring the economy out of the Covid crisis and to mitigate the effects of a third wave. But vaccine hesitancy, in part due to misinformation being spread about the shots, has been an issue both in India and globally.

Vaccines are also in short supply and that has slowed down domestic inoculation efforts and forced India to halt exports to other countries.

For his part, Puri said that proper dissemination of information and education around vaccination is needed and that the government is doing its part.

India is battling a devastating second wave of outbreak that started in February and accelerated in April and early May, which overwhelmed the country’s health-care infrastructure. The sector has struggled with shortages of beds, oxygen and medication as many doctors and other health-care workers succumbed to Covid-19.

A doctor walks past the banner announcing a Covid-19 vaccination drive in Hyderabad, India on May 28, 2021.

Noah Seelam | AFP | Getty Images

Some of that pressure eased once the central government and states stepped up their efforts to manage the outbreak while international aid poured in, providing some of the much-needed medical supplies.

Daily reported cases in India have declined from a peak of more than 414,000 in early May. So far, the South Asian nation reported more than 28.5 million cases and over 340,000 deaths.

Puri said the government has now mapped out ways to deal with challenges like oxygen shortages, where hard-hit areas ran out of stock and logistical difficulties made it harder for new supplies to reach them.

Initially, the government diverted oxygen meant for industrial use to medical facilities. Last month, it stepped up efforts to streamline the supply by allocating funds to install 500 medical oxygen plants across India within three months.

“If a third wave comes, and when it comes, depending on the requirements, our capacity to again repurpose and again to convert back to dealing with it, I think that infrastructure capacity is there,” Puri said.

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Business

Commerce secretary assured U.S. can enhance semiconductor manufacturing

Trade Minister Gina Raimondo on Tuesday expressed confidence in the efforts of the Biden government to increase semiconductor manufacturing in the United States

In an interview with CNBC’s Mad Money, Raimondo said the global chip scarcity that has rocked a number of industries shows the need for America to increase domestic manufacturing capacity and become a leader again. Asian countries, especially Taiwan, dominate the industry.

“We’ll make it. There’s no option,” Raimondo told host Jim Cramer. “When the semiconductor supply chain is disrupted, the economy is disrupted.”

“They are in your dishwasher, your car, your computer, your headset, your phone and your military equipment. So, yes, we will do it,” she added, describing it as an economic and national safety imperative.

Senate Majority Leader Chuck Schumer, DN.Y, put together the U.S. Innovation and Competition Act of 2021, which, among other things, aims to provide $ 52 billion to support semiconductor manufacturing in the country.

While Democrats and Republicans still have disagreements over certain parts of the bill, there is bipartisan support for addressing the issues it addresses.

Raimondo said she hopes it passes the upper chamber “in the coming days,” offering an optimistic timeline similar to Schumer. “That can’t wait,” said Raimondo, who served as governor of Rhode Island before heading the commercial division.

“This requires an emergency appropriation … and I believe Congress has the will to do it,” she added.

Raimondo also addressed the possible infrastructure proposal that a group of Senate Republicans would like to offer as an antidote to President Joe Biden’s plan. Raimondo participated in some negotiations in Washington.

“I don’t know what’s on the deal. We’ll have to see if it’s real, but the fact that we’re still talking and they may come back with a $ 1 trillion deal is certainly progress.” said she said.

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Health

BioNTech CEO assured shot works in opposition to India pressure

Ugur Sahin, CEO of BioNTech, told CNBC on Thursday that he was “confident” that the company’s Covid-19 vaccine with US partner Pfizer will be effective against a variant of the coronavirus first identified in India.

The strain known as B.1.617 contains two key mutations that have been found separately in other coronavirus variants. The variant, also known as the “double mutant,” was first discovered in India, where some believe it is behind a recent spike in new Covid-19 cases.

The variant has since been identified in other countries, including the United States.

Sahin said the German drug maker had tested its two-dose vaccine, currently not available in India, against similar “double mutants”. Based on that data, Sahin said he feels confident the shot will still be protective.

“We evaluate [the strain] … and the data will be available in the coming weeks, “he told CNBC.

“However, we had similar double mutants in our previous tests and are confident from the data we had in the past that we could see a similar way of neutralizing this virus. But we will only know when we have the data in our hands, “he added.

In recent months, US health officials have said they fear that new, highly contagious variants of the virus may one day be able to evade the protection of currently approved vaccines. They urge Americans to get vaccinated as soon as possible before new and potentially more dangerous variants emerge.

Studies have shown that the Pfizer BioNTech vaccine still protects against other strains, including B.1.526, the variant first identified in New York, and B.1.1.7, the variant found in the UK

An Israeli study found that B.1.351, the variant discovered in South Africa, was able to bypass some of the protection provided by the Pfizer BioNTech vaccine, even though the shot continued to be highly effective.

Although the shot continues to be effective, Sahin said people will likely need a third shot of his two-dose Covid-19 vaccine to reduce immunity to the Tureci virus.

In February, Pfizer and BioNTech announced that they were testing a third dose of their Covid-19 vaccine to better understand the immune response against new variants of the virus.

Sahin said Thursday that researchers are seeing a decrease in antibody responses to the virus after eight months.

“If we give a boost, we could actually increase the antibody response beyond what we started with, and that could give us real comfort in protection for at least 12 months, maybe 18 months,” he said.

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Business

RH CEO Gary Friedman assured within the retailer’s growth plans

Gary Friedman, CEO of RH, told CNBC on Thursday that he was confident about the company’s expansion vision, even if some may question the luxury furniture retailer’s moves into the European market or into new industries as a whole.

“It takes a long time to build something extraordinary in this world, and we still feel like we’re honestly just warming up,” Friedman said in an interview with Jim Cramer about Mad Money. “We’re more excited than ever and see more opportunities than ever.”

RH, formerly known as Restoration Hardware, plans to open stores in England and Paris next year as the California-based company expands internationally.

With the debut of its RH Guesthouse concept in New York City, the company is also moving further towards the hospitality industry – it already operates restaurants. That is slated to open in the fall, followed by an RH guesthouse in Aspen, Colorado next year. Friedman refuses to refer to them as hotels, saying RH is trying to “create a new market for privacy and luxury”.

In Aspen, RH also has plans to develop homes in its first “RH ecosystem”.

“A lot of the things we’re going to do are just misunderstood at first. And until they’re seen and respected … then you can’t ignore it,” Friedman said.

Confident that the company can thrive in Europe, Friedman points to RH’s experience sourcing locally sourced products and its position as the leading Italian bedding and Belgian linen seller worldwide.

Friedman acknowledged that RH’s foray into new industries like residential real estate may seem strange at first for a company traditionally viewed as a retailer. “But when you’re trying to build one of the most admired brands in the world, when you want to do something extraordinary, you can’t go down an ordinary path,” he said.

Friedman’s appearance on “Mad Money” on Thursday came the day after RH posted fourth quarter revenue and earnings that exceeded analysts’ expectations. RH ended fiscal 2020 with sales of $ 2.85 billion. In a letter to shareholders, Friedman wrote that RH believes “the data supports the RH brand, which hits $ 5-6 billion in North America and $ 20-25 billion globally.”

RH stock rose 9% on Thursday to close at $ 529.08 apiece. The stock is up nearly 400% over the past 12 months.

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World News

China’s Sharp Phrases in Alaska Sign its Extra Assured Posture

ANCHOR – The Biden government’s first face-to-face meeting with China ended Friday after a vivid demonstration of how the world’s two largest economic and technology powers are facing a growing gap of suspicion and disagreement over a range of issues affecting the global Will shape the landscape for years to come.

After an opening session on Thursday marked by mutual public accusations, the two sides left an Anchorage hotel on Friday without jointly expressing their willingness to work together, even in areas where both say they share common interests, from climate change until the rollback of North Korea’s nuclear arsenal.

Secretary of State Antony J. Blinken argued that it was valuable to hear how differently Chinese President Biden and President Xi Jinping, who celebrated a cautious friendship a decade ago, now pursue their priorities.

“We know and knew that there are a number of areas where we are fundamentally at odds,” Blinken told journalists after the Chinese diplomats left the venue without making public statements or answering questions. “And it’s no surprise that when we addressed these issues clearly and directly, we received a defensive response.”

The extraordinary resentment exuded by China’s top diplomats in Alaska reflected a new militant and unapologetic China that was increasingly deprived of diplomatic pressure from the American presidential administrations.

Just as Washington’s views of China have changed after years of promoting the country’s economic integration, so have Beijing’s perception of the United States and the privileged place in the world it has long held. The Americans, in their view, have neither an overwhelming reservoir of global influence nor the power to use it against China.

This has made China more confident in pursuing its goals openly and blatantly – from human rights issues in Hong Kong and Xinjiang, to territorial disputes with India and Japan and others in the South China Sea, to the most controversial fate of Taiwan’s self-governing democracy, which China claims for itself.

While China still faces tremendous challenges at home and around the world, its leaders now pretend history is on their side.

“These strategic exchanges were open, constructive and helpful,” said China’s top diplomat Yang Jiechi in comments that were broadcast on Chinese state television. “Of course there are big arguments between us. China will vigorously defend national sovereignty, security and development interests, and China’s development and growing strength are unstoppable. “

Although most of the discussions in Anchorage took place behind closed doors, the video of the opening session provided ample evidence of the tense start to the meetings. Mr. Yang held a 16-minute ceremony accusing Mr. Blinken and Jake Sullivan, Mr. Biden’s National Security Advisor, of condescension and hypocrisy.

China’s more aggressive diplomatic stance is likely to fuel tension with the United States, which has declared China itself a national security rival. China’s persistent views have already surfaced on its borders and in the surrounding waters, where it fought Indian troops and threatened ships from several countries including Japan, Malaysia and Vietnam over the past year.

The American delegation, Blinken said, had arrived in Alaska to discuss issues that China considered taboo because they concerned the country’s internal affairs. These included American objections to human rights violations against minority Uyghurs in China’s western Xinjiang province – which Mr. Blinken has described as “genocide” – and China’s application of a new national security law to suppress political disagreements in Hong Kong.

Mr Blinken and Mr Sullivan tried to downplay the sharpness that flared up in front of television cameras on Thursday evening at the opening hour of the two-day event.

“We knew we were coming in, we knew we were going out,” said Mr. Sullivan. “And we’re going back to Washington to take stock of where we are.”

Blinken said a discussion of China’s cyber activities also generated an irritated reaction: while the United States has not yet identified a country as responsible for a giant Microsoft Exchange system hack used by tens of thousands of government agencies and corporations, Microsoft has said It was a Chinese government sponsored operation.

Mr Blinken said “our interests overlap” on diplomacy with Iran, North Korea and Afghanistan, as well as on climate change. However, there was no shared declaration of determination to work together on any of these issues, the diplomatic friendliness that routinely seals such high-level meetings.

Afterward, senior Biden government officials insisted the talks would be useful in gaining insight into Beijing’s views, which could help develop a new American strategy to compete with China in a variety of areas. The officials, who informed journalists on condition that they could not be identified, called the private conversations civil.

A senior official said Mr Blinken focused Friday’s closing talks on human rights as well as detaining foreigners in China and using a practice known as travel bans to prevent them from leaving the country.

While this was not the first irritable meeting between Chinese and Americans, the balance of power between the two countries has changed.

For decades, China turned economically and militarily from weak positions to American governments. This sometimes forced it to comply with American demands, even when it was reluctant to release imprisoned human rights activists or to accept Washington’s terms for joining the World Trade Organization.

China today feels much more confident in its ability to challenge the United States and press for its own vision of international cooperation. It is a trust that China’s leader since 2012, Xi Jinping, has welcomed, who used the phrase, “The East is rising and the West is falling.”

Beijing’s view has been fueled by the coronavirus epidemic, which has largely tamed China at home, and internal political divisions in the United States. Mr. Yang highlighted both in his remarks on Thursday.

“The human rights challenges facing the United States are deeply ingrained,” Yang said, citing the Black Lives Matter movement against police brutality. “It is important that we manage our respective affairs well rather than diverting the guilt away from someone else in this world.”

The change in China’s strategy isn’t just rhetorical or “stellar” to a domestic audience, as suggested by a senior official traveling with Mr. Blinken.

Regarding the litany of issues Mr Blinken raised before and during the talks – from Hong Kong to Xinjiang, from human rights to technology – China’s leaders have refused to give a reason. They have done so despite international criticism and even tightened the punitive measures of the Trump and now the Biden administrations.

In the last round, the State Department announced this week that it would sanction 24 Chinese officials for their role in eroding Hong Kong’s electoral system. The timing of the move, just as the Chinese were preparing to leave for Alaska, added to the sharpness.

“This is not the way you greet your guests,” said China’s Foreign Minister Wang Yi in remarks in Alaska that were as clear as Mr. Yang’s.

The Biden government’s stated strategy for dealing with China was to form coalitions of countries to confront and deter their behavior. Mr Biden’s team has argued that while President Trump correctly diagnosed China as a growing threat, its erratic policies and ill-treatment of allies are undermining efforts to counter it.

How successful the new strategy will be remains to be seen, but for the past few years China has pretended to be impervious to outrage at its measures, which makes the task all the more difficult.

For example, the expansion of international condemnation last year over the introduction of a new national security law to curb disagreement in Hong Kong did nothing to stop a new law dismantling the territory’s electoral system this year.

China also opted Friday to begin its legal proceedings against two Canadians arrested more than two years ago and charged with espionage in general in retaliation for American efforts to extradite an executive from telecommunications giant Huawei for fraud-related charges Sales was viewed in Iran.

It was noticed that Mr. Yang, a seasoned diplomat and a member of the ruling Politburo of the Communist Party of China, used what he said to say that neither the United States nor the West by and large had a monopoly on international public opinion .

This is reflected in China’s successful efforts to use international forums such as the United Nations Human Rights Council to counter condemnation of measures such as mass detention and re-education programs in Xinjiang, the predominantly Muslim region of western China.

“I don’t think the vast majority of countries in the world would recognize that the universal values ​​held by the United States or that the opinion of the United States could represent international public opinion,” Yang said. “And these countries would not recognize that the rules serve as the basis for international order for a small number of people.”

Mr. Yang also questioned Mr. Blinken’s allegation that he had recently heard concerns from American allies about forced Chinese behavior. He noted that the two countries Mr. Blinken was visiting – Japan and South Korea – were China’s second and third largest trading partners, showcasing the growing influence of its economic power.

The confrontation played a good role among local audiences in China, as measured by reactions to the country’s carefully censored social media sites. “Who but China would dare to put the United States in such a corner on American territory these days?” A Weibo user wrote approvingly under a video of Mr. Yang’s remarks.

While American officials said the temperature of meetings in Alaska had dropped behind closed doors, few officials or experts on either side are hoping for a significant improvement in relations. “By and large, this negotiation is only for the two sides to put all the cards on the table, for the two sides to see how big and deep the differences are,” said Wu Qiang, an independent political analyst in Beijing. In fact, however, it will not help bring about reconciliation or mitigation. “

Chris Buckley contributed to the coverage from Sydney, Australia, and Claire Fu contributed to the research.

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Business

Firm assured about technique to double revenues in 2 years

Twitter announced ambitious goals on Thursday to double both its user base and revenue over the next two years. Milestones the chief financial officer said he thinks the company is more than capable of meeting those goals.

The social media company intends to grow its daily active users from 152 million in late 2019 to 315 million and to generate revenue of $ 7.5 billion by the end of 2023, up from $ 3.7 billion in 2020 .

Twitter stock hit new highs following the announcement, rising more than 3% despite the broader tech sector having its worst trading day since October.

Upon closing, Twitter’s CFO Ned Segal told CNBC’s Jim Cramer that the forecast reflected the company’s optimism about its future performance.

“We can set such big goals because we have a lot of confidence in our strategy,” he said in a “Mad Money” interview. “We’ve worked a lot faster and have a clear path ahead of us with tons of people still not using Twitter and an addressable market of over $ 150 billion for digital ads that may come on Twitter.”

The targets are aggressive coronavirus pandemic outbreaks. To meet them, Segal says Twitter will focus on accelerating the release of new products and features, attracting new users, and even developing a new subscription model. The company recently announced the acquisition of the Revue newsletter platform, which allows developers to publish and monetize editorial newsletters.

$ 59.5 billion worth of Twitter hosted an Analyst Day Thursday to showcase its new prospects and products. Management has also tested new features, some of which already exist elsewhere in the social media world and which are set to roll out in the future.

Features we tested included Super Follow Subscriptions, which allow followers to pay to access exclusive content. Micro-communities where groups can be formed on a topic and a new security mode that allows accounts that are abusive or sketchy to be automatically blocked and muted.

With the growing success of the Clubhouse audio chat room app, Twitter also released its own feature called Spaces.

“For us this is a natural extension of where we started with text. We added pictures, we added video, live video, audio tweets, and now you can go in … and create a space and a conversation Lead. Other people can participate and others can listen, “said Segal. “People can tweet next to it. It’s going to be a great experience.”

While closing and restricting the coronavirus business was particularly difficult for brick and mortar businesses, revenue on Twitter, an ad-supported business, also slowed.

Twitter saw mid-single-digit growth in 2020, following double-digit revenue growth for two consecutive years. The company had revenue of $ 3.7 billion that year, up 7.4% from $ 3.46 billion in 2019. As costs and expenses rose last year, Twitter also posted one Loss of $ 1.14 billion, the first annual loss since 2017.

For the current quarter, Twitter expects double-digit sales growth compared to the same quarter of the previous year. The company announced a revenue forecast of between $ 940 billion and $ 1 billion.