Sunday, 16 Jun 2024

SIP inflows hit 31-month low at ₹7,302 crore in November

NFL won’t be cutting in line for coronavirus vaccine – The Denver Post

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Mitch McConnell Publicly Acknowledges Joe Biden As The President-Elect

More than a month after the election, Senate Majority Leader Mitch McConnell publicly acknowledged Joe Biden and Kamala Harris as the winners of the presidential race, referring to them as the president elect and Vice President elect.

McConnell’s comments on the floor of the Senate came a day after the Electoral College confirmed the Biden and Harris victory over Donald Trump, 306-232.

“Many of us had hoped the presidential election would yield a different result, but our system of government has processes to determine who will be sworn in on January 20th,” McConnell said. “The Electoral College has spoken.”

McConnell’s reference to Biden and Harris came after he first gave a long summation of what he saw as Trump’s major accomplishments. Trump has refused to concede and continues to make unfounded and false claims that the election was rigged.

More to come.

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Mitch McConnell Acknowledges Joe Biden’s Presidential Win — 42 Days After The Election

Senate Majority Leader Mitch McConnell (Ky.) on Tuesday publicly congratulated President-elect Joe Biden after weeks of refusing to recognize his presidential win.

“Our country has officially a president-elect and a vice-president elect,” he said.

McConnell’s acknowledgement in a speech on the Senate floor follows the Electoral College making Biden’s win official on Monday.

“Our system of government has processes to determine who will be sworn in on January the 20. The Electoral College has spoken. So today I want to congratulate President-elect Joe Biden,” McConnell said, while recognizing Biden’s decadeslong work in the U.S. Senate.

“I also want to congratulate the vice president-elect, our colleague from California, Sen. Kamala Harris,” McConnell continued. “Beyond our differences, all Americans can take pride in that our nation has a female vice president-elect for the very first time.”

McConnell was one of several Senate Republicans who had refused to acknowledge Biden’s win.

His recognition comes as President Donald Trump continues to contest the results of the Nov. 3 election, with him claiming, without supporting evidence, that the election was rigged and stolen from him.

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Herald morning quiz: December 16

Test your brains with the Herald's morning quiz. Be sure to check back on nzherald.co.nz at 3pm for the afternoon quiz.

WME & Brillstein Entertainment Sign ‘Jingle Jangle’ Star Madalen Mills

EXCLUSIVE: Young actress Madalen Mills has signed with WME and Brillstein Entertainment for representation. The signing comes as Mills recently marked her feature acting debut in Netflix’s first original live-action musical, Jingle Jangle: A Christmas Journey, from writer and director David E. Talbert.

Mills stars alongside Oscar winner Forest Whitaker and is featured in two songs from the musical’s soundtrack. The holiday tale is set in the town of Cobbleton and follows legendary toymaker Jeronicus Jangle (Whitaker), whose fanciful inventions burst with whimsy and wonder. But when his trusted apprentice steals his most prized creation, it’s up to his equally bright and inventive granddaughter (Mills) and a long-forgotten invention to heal old wounds.

Up next, Mills stars opposite Queen Latifah and Dennis Quaid in The Tiger Rising, a film adaption based on Kate DiCamillo’s children’s book by the same name.

At age 9, Mills was the youngest child performer ever cast in a year-long run of Andrew Lloyd Webber’s School of Rock on Broadway in 2018. In 2017, she made her first professional theater debut at age eight in the Broadway National Tour of Dr. Seuss’ How the Grinch Stole Christmas! The Musical.

She continues to be repped by attorney Nina Shaw.

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Stock Alert: TG Therapeutics Rises To New 52-week High

Shares of TG Therapeutics, Inc. (TGTX), a New York-based biopharmaceutical company, are rising more than 9 percent or $4.02 in Tuesday’s morning trade at $47.77, after hitting a new 52-week high of $48.00.

Monday, TG Therapeutics said it has priced an underwritten public offering of 6.32 million shares of its common stock at a public offering price of $43.50 per share. The offering is expected to close on December 17, 2020.

TG Therapeutics expects gross proceeds from the offering to be about $275 million. The offering was upsized from the previously announced offering size of about $200 million of common stock.

The company anticipates using the net proceeds to fund the continued development of ublituximab and umbralisib, the potential in-license, acquisition, development and commercialization of other pharmaceutical products, and for general corporate purposes.

TG Therapeutics has traded in a range of $6.34 to $48.00 in the past 52 weeks.

SIP inflows hit 31-month low at ₹7,302 crore in November

‘Uncertainty driving investors to hold cash, pause on SIPs’

Investment in mutual funds through systematic investment plans dropped to a 31-month low of ₹7,302 crore in November amid a challenging economic environment.

However, investment through Systematic Investment Plans (SIPs) had risen in October after six months of continuous decline.

The 44-player mutual fund industry witnessed an inflow to the tune of ₹7,302 crore through SIPs in November compared with ₹7,800 crore in the preceding month, data from the Association of Mutual Funds in India showed. This was the lowest since April 2018, when investments via SIP clocked ₹6,690 crore.

Net addition of SIP accounts stood at 3.39 lakh in November. Fund collection through SIP was ₹7,788 crore in September and ₹7,791 crore in August.

It had dropped below the ₹8,000 crore-mark in June to ₹7,917 crore. Marketmen said SIP investments had fallen because investors wanted to maintain some liquidity as the situation was uncertain when it came to their jobs and businesses.

Equity mutual funds, which mainly depend on SIP for flows, saw outflow of ₹12,917 crore in November, making it the fifth straight month of withdrawal as investors booked profit amid higher market valuations.

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