Twitter’s German-listed shares slumped as much as eight per cent on Monday, the first trading day after it permanently suspended US President Donald Trump’s account late last Friday.
The company said the suspension of Trump’s account, which had more than 88 million followers, was due to the risk of further violence, following the storming of the US Capitol last Wednesday.
At 1011 GMT, the social media firm’s US-listed shares were also off 6.8 per cent at $47.94 in thin premarket trading, according to Reuters.
It was the first time Twitter banned a head of state, sparking a worldwide controversy over the impact US tech giants can have on free speech and democracy more broadly.
For Twitter’s balance sheet itself, the decision to ban the US president is expected to have a moderate negative impact.
“Expect slight user decline, though engagement erosion is a bigger question,” Berstein analysts wrote in a note looking into the issue.
Far-right groups maintain a vigorous online presence on digital platforms like Parler, Gab, MeWe, Zello and Telegram and could disengage from mainstream social media. There could also be additional costs for Twitter and others as they seek to further moderate content uploaded by their users.
“Incremental moderation may be welcome but it’s not cheap and could benefit Facebook that already employs a moderation army (around six times) larger than Twitter’s workforce,” Berstein analysts said.
Facebook Inc has suspended Trump’s account until at least the end of his presidential term later this month.
Air Pollution Tracked In Lagos, Abuja As U.S Lunches Quality Air Monitors
Nigeria now hosts two reference-grade air quality monitors, effectively linking Nigeria to air quality index information and health messaging from the US’ Environmental Protection Agency (EPA).
Each of the monitors is domiciled at the US Embassy, Abuja and the US Consulate General, Lagos, a statement by the consulate said on Monday.
The monitor supplies data to the ZephAir app, which is free to download on Apple and Google Play Stores.
The US Ambassador to Nigeria, Mary Beth Leonard, unveiled the US Consulate General’s reference-grade air quality monitors as part of the government’s ongoing contribution to environmental sustainability in Nigeria.
Leonard, who is optimistic that the new equipment will enhance the Consulate’s capacity to provide reliable data on air quality, highlighted the country’s commitment to environmental sustainability.
“Through a team effort, we have successfully procured air quality monitors for Embassy Abuja and Consulate Lagos through the Greening Diplomacy Initiative’s Department of State’s Air programme.
“This will strengthen our ability to collect and share reliable data on air quality as it corresponds to the time of the day and the seasons of the year.
“We are proud to contribute to Nigeria’s efforts to protect the environment and improve human health.
“The Mission will continue to promote environmental policies that balance environmental protection and economic growth,” Leonard said.
The News Agency of Nigeria (NAN) reports that the US Department of State’s 65-plus air quality monitors, which are housed at US Embassies and Consulates across the world, are made in the US to Environmental Protection Administration (EPA) specifications, as delineated by the Clean Air Act.
NIMC Adopts New Strategy To Register More People In Adamawa State
With National Identity Management Commission (NIMC) centres across the country becoming increasingly overwhelmed by prospective enrollers, the commission in Adamawa State has come up with a strategy of grouping people in batches to prevent overcrowding.
The commission said despite having centres in all the Local Government Areas of the State, the headquarters is still overwhelmed by the number of persons seeking to be enrolled.
It said the batch strategy will prevent overcrowding as well as curb the spread of Covid-19.
For many, the new strategy of doing the registration in batches is not the solution.
They accused the commission of delaying the process and making them spend too time and money.
The commission also warned members of the public against the activities of fraudsters who promise to hasten the process of the enrolment.
The commission said to ensure that more Nigerians are enrolled as quickly as possible; it is leveraging on private licensed bodies.
Facebook And Instagram Set To Overturn Trump’s Indefinite Ban
Facebook has referred its “indefinite” ban of Donald Trump to its oversight board, to check whether it should still stand.
The independent board – which has been likened to a supreme court – makes binding decisions that Facebook says cannot be overruled by chief executive Mark Zuckerberg or anybody else at the company.
Facebook formed its oversight board amid criticism over the content decisions it makes. It is intended as a way of assuring users and critics that its decisions are fair and reasonable, by having them vetted by the group, which includes law experts, politicians and campaigners.
Nick Clegg, Facebook’s vice president of global affairs and communications, announced the decision to refer the ban in a statement. At the time same, the board confirmed that it would “accept” the case, and publish its decision on its website.
Facebook has committed to only overturn the ban if it is told to by the board, it said, and must also respond to any broader policy recommendations that it makes during the process.
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