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Southwest beats earnings estimates, forecasts record revenue for current quarter

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Southwest beats earnings estimates, forecasts record revenue for current quarter


A Southwest Airlines jet approaches Midway Airport on Dec. 15, 2023, in Chicago. (John J. Kim/Chicago Tribune/Tribune News Service via Getty Images)

John J. Kim | Chicago Tribune | Getty Images

Southwest Airlines on Wednesday posted a surprise profit for the third quarter and said it expects to generate record sales in the last three months of the year thanks to better travel demand and higher fares.

The carrier said it expects unit revenue to rise between 1% and 3% for the fourth quarter, with capacity up 6% over the same period last year.

“This guidance range assumes demand strength remains at current levels through the end of the quarter,” Southwest said.

Here’s how Southwest performed in the period ended September 30 compared with Wall Street expectations, according to consensus estimates from LSEG:

  • Earnings per share: 11 cents adjusted vs. loss of 3 cents expected
  • Revenue: $6.95 billion vs. $6.92 billion expected

In July, Southwest joined other airlines in cutting its 2025 profit forecast. The Dallas carrier said it expected full-year earnings before taxes of $600 million to $800 million, down from an earlier forecast of $1.7 billion. It reaffirmed that earnings outlook on Wednesday.

The carrier has been working to better compete with rivals and increase sales, abandoning longtime policies like open seating and two free checked bags for each traveler.

Southwest CFO Tom Doxey told CNBC in an interview that increased sales from selling seat assignments would show up in the first quarter, when the first flights without open seating begin.

Southwest’s third-quarter profit fell more than 19% year over year to $54 million from $67 million. On a per-share basis, Southwest’s earnings fell to 10 cents from 11 cents a year earlier.

Adjusting for one-time items, Southwest reported $58 million in earnings for the third-quarter, or 11 cents a share. 

Revenue rose 1% to $6.95 billion from the year-earlier period. 

Read more CNBC airline news



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Bank Holiday Bhai Dooj: Are Branches Closed Or Open In Your City Today? Check State-Wise List

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Bank Holiday Bhai Dooj: Are Branches Closed Or Open In Your City Today? Check State-Wise List


New Delhi: As per RBI holiday list, bank branches will be closed for certain days on account of Diwali and related festivities like kali puja, kati bihu, Bhai dooj, across the nation. Bank branches in several cities will be closed on account of Bhai Dooj today, 23 October 2025.

When will bank branches be closed over the next few days?

Bank branches will be closed on various accounts in different parts of the country on various days between 21 and 23 October for Diwali festivities. Here’s the detailed list.

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Banks will be closed in Gujarat, Sikkim, Manipur, Uttar Pradesh, West Bengal and Himachal Pradesh on account of Bhai Bij/Bhaidooj/Chitragupt Jayanti/Laxmi Puja (Deepawali)/Bhratridwitiya/Ningol Chakkouba on October 23.

Banks were closed for Diwali (Bali Pratipada)/Vikram Samvant New Year Day/Govardhan Pooja/Balipadyami, Laxmi Puja (Deepawali) on October 22 in  Gujarat, Maharashtra, Karnataka, Uttarakhand, Sikkim, Rajasthan, Uttar Pradesh, Bihar. Banks were closed in Assam for Kati Bihu on october 18. In several cities –Maharashtra, Madhya Pradesh, Odisha, Sikkim, Manipur, Jammu & Kashmir–banks were also closed for Diwali Amavasya (Laxmi Pujan)/Deepawali/Govardhan Pooja on October 21

In the remaining days of October, banks will be closed for the following festivities

Chath Puja (Evening Puja): October 27

Chath Puja (Morning Puja): October 28

Sardar Vallabhbhai Patel’s Birthday: October 31

Apart from the above bank holidays, the second and fourth Saturdays, Sundays of the month are falling on the following dates:

Sunday: October19

Fourth Saturday: October 25

Sunday: October 26

 

Holidays of the mentioned days will be observed in various regions according to the state declared holidays, however for the gazetted holidays, banks will be closed all over the country.

If you keep a track of these holidays, you would be able to plan bank transaction activities in a better way. For long weekends, you can even plan your holidays well.



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Key economic indicators will see major revamp in early 2026 – The Times of India

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Key economic indicators will see major revamp in early 2026 – The Times of India


NEW DELHI: India’s economic dashboard is getting a long-overdue makeover in early 2026. From GDP and retail inflation to industrial output, several major measures of economic activity will be updated to reflect how people live, earn and spend today. A new index to track the booming services sector — from logistics to digital platforms — will also make its debut, offering a sharper picture of what drives the country’s growth.First off the block will be the GDP data, with 2022-23 prices, which will be unveiled on Feb 27 when advance estimates are released. This means that the budget-making exercise, which depends on the first advance estimates released Jan 7, will use the existing series. In Feb, the ministry of statistics and programme implementation will put out the updated retail inflation data, with 2023-24 base, measuring price rise for Jan.

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And, in April, the new index of industrial production with a 2022-23 base will be released. This will be followed by the services sector index, estimating the largest component in India’s economy for the first time. The index has been in the making for close to two decades and seen to be crucial, especially as the role of new sectors, such as the digital economy and logistics, increases in everyday life.The new data line-up is seen to be the biggest upgrade in recent years with the base year set to be changed after over a decade. Currently, official estimates are based on 2011-12 prices and the consumption basket has also seen a massive change in these years, with the share of food coming down and products such as smartphones becoming mass-used items, replacing feature phones.Besides, it seeks to tackle crucial gaps in the current data, where products such as food offered through the public distribution system, do not carry any expenditure share since there is no out of pocket spend by households. The ministry is currently undertaking a revision of the consumer price index (CPI) with the objective of updating item weights, revising the consumption basket and incorporating methodological improvements to strengthen the index.





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NHL strikes first-ever deal with prediction markets Kalshi and Polymarket

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NHL strikes first-ever deal with prediction markets Kalshi and Polymarket


The National Hockey League said Wednesday it’s reached a multi-year licensing agreement with prediction markets Kalshi and Polymarket. More sports leagues may be coming soon.

Tarek Mansour, Kalsh’si co-founder and CEO, told CNBC’s “Squawk Box” the deal marked a “seminal moment” for prediction markets and the company.

“A league like the NHL partnering with us is a strong sign that prediction markets are here to stay,” Mansour said.

As part of the NHL deal, Kalshi and Polymarket will gain access to the league’s proprietary data and rights to use NHL marks and logos. In return, Mansour said, the hockey league will get a suite of customer protections. The NHL said both companies will receive brand exposure during broadcasts.

Mansour said the NHL deal could be replicated across other leagues: “Be on the lookout for more announcements soon,” he told CNBC.

Representatives for the NBA and NFL did not immediately respond to requests for comment. MLB declined to comment.

In August, the NFL expressed its concern about prediction markets, which allow customers to trade on the outcomes of events across entertainment and culture like election results or the length of the ongoing government shutdown.

Kalshi and other event trading platforms are regulated by the Commodity Futures Trading Commission. Yet many states, regulators and tribes are pushing back on prediction markets, arguing they amount to unregulated gambling. Multiple state and federal lawsuits are in progress over the alleged risks.

The American Gaming Association said in a statement Wednesday that the NHL deal “sends a troubling message.”

“The platforms in question fail to comply with essential standards,” the AGA said. “Worse, they are currently offering sports wagers in all 50 states to anyone 18 years of age—some of which have not authorized any form of legal sports betting and those that have largely define 21 as the prevailing legal age for wagering.”

Keith Wachtel, president of NHL Business, told CNBC he feels comfortable with Kalshi and Polymarket from a regulatory and integrity standpoint, noting that sportsbooks like FanDuel and DraftKings have also struck partnerships with prediction platforms.

He said the league’s interest in prediction markets lies in the opportunity to reach new fans.

“What’s great about prediction markets is it goes beyond sport,” he said. “It gives opportunity to watch a different audience grow significantly.”

Mansour said criticism of the market is par for the course for a disruptor and that he feels confident in Kalshi’s regulatory setup. He said Kalshi has spent years working with the federal government to create a regulated prediction markets.

“When we think about the announcement today, the NHL deal is really about that. It’s essentially a validation of the fact that we have established the right set of customer protection and the right set of market integrity measures to protect our markets, but also the game,” he said.



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