Welcome to Social Buzz, a daily column looking at what’s trending on social media platforms. I’m Caitlin Fichtel, an editor on Bloomberg’s Breaking News team, which monitors everything from company statements to tweets from some of the most prominent people in the financial world. Here’s your daily look at what the internet is talking about.
Holmes Can’t Stay Out of Prison
A court ruled that Theranos founder Elizabeth Holmes can’t stay out of prison pending her appeal, The Wall Street Journal reported. Holmes was originally scheduled to report to prison on April 27 but the date was delayed while the appeals court considered her request; a new reporting date hasn’t been set. Holmes and her former second-in-command Ramesh “Sunny” Balwani were jointly ordered by a lower court to pay $452 million in restitution to investors.
China Fines Comedy Firm
The Chinese government fined one of the country’s best-known comedy companies with a 14.7 million yuan or $2.13 million penalty for making a military joke, Reuters reported. The Beijing arm of China’s Ministry of Culture and Tourism Bureau said it would fine Shanghai Xiaoguo Culture Media Co. 13.35 million yuan and confiscated 1.35 million yuan in “illegal gains” from the firm after finding that a recent show breached rules.
NBA Draft
The San Antonio Spurs won the 2023 NBA draft lottery and will get the No. 1 pick, ESPN reported. It is expected the Spurs will select French prospect Victor Wembanyama.
Tesla Advertising
Tesla Inc. Chief Executive Officer Elon Musk said the electric-car maker will dabble in advertisements, a major shift for the company that’s largely avoided traditional marketing. “We’ll try a little advertising and see how it goes,” Musk said Tuesday at Tesla’s annual shareholder meeting, in response to an investor’s question.
Manchester United Bid
Manchester United Plc shares rose after people familiar with the matter said a Qatari group led by Sheikh Jassim submitted an improved offer for the English football club. The Qatar-led group is offering to buy 100% of the club. News of the improved bid follows reports last week that British billionaire Jim Ratcliffe was close to securing a deal to buy the team.
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--With assistance from Dana Hull, Sean O'Kane, Joe Easton and David Hellier.
