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Members of the Ekiti State House of Assembly are preparing to travel to Brampton, Ontario, Canada, for a leadership retreat focused on executive and legislative collaboration.

According to a letter signed by the Clerk of the Ekiti State House of Assembly, Titilope Agbede, the purpose of this trip, billed for November 2024, is to bolster legislators’ skills in navigating policy complexities and to engage with the Ekiti Kete Association in Canada.

The letter dated October 18, 2024, and addressed to Barrister Adesina, President of Ekiti Kete Canada, clarified that the retreat aims to equip the legislators with the necessary knowledge and skills to effectively navigate the complexities of policy implementation challenges.

According to the letter, “This is to inform you that Members of Ekiti State House of Assembly and Officials led by the Rt. Hon. Speaker, Honourable Adeoye Stephen Aribasoye will be leading to attend an Executive Legislative Leadership Retreat scheduled to hold in November, 2024 in Brampton, Ontario, Canada.

The retreat aims to equip the legislators with the necessary knowledge and skills to effectively navigate the complexities of policy implementation challenges.

As part of our visit, the House intends to have a courtesy visit to the Ekiti Kete Association, Canada to meet with the members of Ekiti Kete in diaspora. This will be able to foster cultural development and share experience that can promote Ekiti State and good governance for the benefit of our people.

We kindly request that you give us a date and time between 13th November, 2024 and 20th November, 2024.

We look forward to a positive response and the opportunity to have an exclusive meeting with Ekiti Kete to promote and sustain Ekiti Cultural Heritage through educational and socio-cultural programmes.”

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Comcast (CMCSA) on Thursday said in its third-quarter earnings call that it is considering spinning off its cable network portfolio into a separate company.

The separation would not include the broadcast network NBC or streaming platform Peacock, Comcast president Mike Cavanagh said in the call.

"Like many of our peers in media, we are experiencing the effects of the transition in our video businesses and have been studying the best path forward for these assets," Cavanagh said, according to a transcript provided by AlphaSense.

"To that end, we are now exploring whether creating a new, well-capitalized company owned by our shareholders and comprised of our strong portfolio of cable networks would position them to take advantage of opportunities in the changing media landscape and create value for our shareholders," Cavanagh added.

Cavanagh also said Comcast is considering partnerships in streaming.

The company, which is struggling with the rise of cord-cutting, also reported mixed third-quarter results and a loss of 365,000 cable TV customers year-over-year.

Boosted by its coverage of the Paris Summer Olympics, Comcast's quarterly revenue rose 6.5% to $32.07 billion, exceeding Visible Alpha consensus expectations, but earnings per share (EPS) of $0.94 lagged estimates.

Comcast shares are up around 2% Thursday morning but are down by roughly the same amount this year.

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Uber Technologies (UBER) shares are dropping almost 10% Thursday, as the ride-hailing giant posted weaker-than-expected gross bookings in the third quarter.

The company said gross bookings rose 16% year-over-year to $41 billion in the third quarter, below estimates from Visible Alpha of $41.3 billion. Trips grew 17% to 2.9 billion, in line with estimates. 

Uber's top- and bottom-line results handily beat analysts' estimates, however. The company reported revenue for the period of $11.19 billion versus the $10.98 billion estimate. Net income of $2.6 billion also beat estimates by a wide margin, although that included a $1.7 billion pre-tax benefit from gains in Uber's revaluation of its equity investments.

“We delivered yet another record quarter of profitable growth at a global scale, reflecting the strength of our platform, which now has over 25 million Uber One members,” Uber Chief Executive Officer (CEO) Dara Khosrowshahi said, adding that the company is continuing "to advance our autonomous strategy."

Uber has announced a number of partnerships with autonomous vehicle (AV) companies like Waymo over the last several months.

Uber shares have gained close to 30% since the start of the year, though down from record levels reached in the days following Tesla's (TSLA) robotaxi event earlier this month. Uber stands to suffer if Elon Musk's company rolls out driverless robotaxis and disrupts the ride-hailing industry but the event this month was light on details and underwhelmed investors.

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The last inflation report before the general election showed price increases cooling nearly to the Federal Reserve's goal of a 2% annual rate.The cost of living as measured by Personal Consumption Expenditures (PCE) rose 2.1% year-over-year in September, down from a 2.3% increase in August, the Bureau of Economic Analysis said Thursday. That was a fresh low since February 2021 and nearly down to the Federal Reserve's target of a 2% annual rate.

The inflation rate was in line with the expectations of forecasters according to a survey of economists by and .

The report was a last official report ahead of Tuesday's election on inflation, an issue that voters have said is one of their biggest concerns, according to polls. Both candidates have emphasized their plans to subdue inflation that surged in 2021 and 2022.The report was also the final one ahead of the Federal Reserve's next meeting in November. At that meeting, the central bank will decide whether to once again reduce its key fed funds rate, putting downward pressure on borrowing costs. The Fed made the first cut since 2020 in its last meeting, lowering the high interest rates it had maintained to subdue inflation.Thursday's report showed the prices for most of the things people buy are increasing at rates similar to pre-pandemic levels. Although the inflation rate has fallen, the prices are still higher than they were before the pandemic.

Core inflation, which excludes volatile prices for food and energy, remained stubbornly high, running at 2.7% over the year, the same as in August, largely because of high housing costs.

The Fed pays more attention to core inflation when evaluating whether it's hitting its inflation target because food and energy prices can fluctuate for reasons unrelated to broader economic trends. The central bank prefers to measure inflation using PCE rather than other measures such as the Consumer Price Index.Inflation picked up when measured on a month-over-month basis, rising 0.2% in September from August, up from a 0.1% increase the month before. Core prices rose 0.3% monthly, up from 0.2% in August.The report also showed household finances improving, with income rising 0.3%, up from a 0.2% increase in August, and spending surging 0.5%, up from 0.3% the previous month. Resilient consumer spending has been a bright spot for the economy, powering economic growth over the past two years despite high borrowing costs for all kinds of loans.Overall, the report did little to change financial markets' expectations that the Fed will cut its benchmark interest rate by 0.25 percentage points in November."The consumer is an unstoppable force, armed with solid labor and asset income, and a spendthrift attitude," Ali Jaffery, an economist at CIBC, wrote in a commentary. "The Fed is going to want to preserve the strength in the economy and today’s data, as well as yesterday’s strong GDP report, (which) still supports gradual rate reductions."

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Stellantis (STLA) on Thursday reported a 27% plunge in third-quarter revenue but also noted progress in running down the excess inventory buildup in the U.S. that has plagued the Big Three automaker.

“While Q3 2024 performance is below our potential, I’m pleased with our progress addressing operational issues, in particular U.S. inventories, which have been reduced meaningfully and are on track for year-end targets, as well as stabilization of U.S. market share,” Chief Financial Officer (CFO) Doug Ostermann said in a statement.

The company,which is home to such brands as Jeep and Chrysler, said that third-quarter net revenues were 33 billion euros ($35.8 billion) and that it was on track to deliver around 20 new models this year.

The figures come just weeks after the automaker issued a profit warning, citing "deterioration in global industry dynamics" and competition from Chinese rivals. It had also said a couple of weeks ago that high dealer inventory levels had contributed to a 36% decline in North American shipments.

It said the third-quarter net revenues had fallen during a “transitional period of product upgrades and inventory reduction” and attributed the drop to “lower shipments and unfavorable mix, as well as pricing and foreign exchange impacts.”

Stellantis shares are rising 3.5% in premarket trading but have lost 43% of their value since the start of the year.

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