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| Wed Oct 5, 2016 | 6:44am EDT BlackRock cuts ETF prices prior to Labor Dept's fiduciary rule A man walks next to a BlackRock sign pictured in the Manhattan borough of New York, October 11, 2015. REUTERS/Eduardo Munoz BlackRock Inc (BGT.N), the world's biggest asset manager, said it would cut prices across its growing U.S. The new york to europe flight time rule, announced by the Department of Labor in April and effective next year, sets a so-called fiduciary standard for financial brokers who sell retirement products, requiring them to put clients' best interests ahead of their own bottom line. The language in the new rule is tougher than an existing rule that only requires brokers to ensure products are "suitable." BlackRock said it would lower the expense management ratio for 15 U.S. "Now, with the Department of Labor fiduciary rule coming into force, financial advisors are sharpening their focus on the quality and cost-efficiency of funds," BlackRock said in a statement. Fidelity Investments, which had dominated the U.S. mutual fund industry until the dot-com bubble burst in the early 2000s, had lowered expenses on 27 Index Mutual Funds and ETFs in June. (Reporting by Subrat Patnaik in Bengaluru; Editing by Amrutha Gayathri) Next In U.S.
29--EAST WENATCHEE -- Alaska Airlines will drop one Tuesday flight out of Pangborn Memorial Airport starting Nov. 1 due to low passenger volume. The schedule from Wednesday through Monday will stay the same. Flight 2069, which departs Pangborn at 6:37 p.m., will be eliminated on Tuesdays only until at least springtime, Alaska spokeswoman Ann Zaninovich said Thursday. The elimination will reduce daily Tuesday service from Pangborn from three flights daily to two, with departures to Seattle's Sea-Tac International Airport at 5:40 a.m. and 10:55 a.m. Zaninovich didn't have passenger boarding numbers to compare. She said the airline made the same move last year, also during the winter travel season at Pangborn. "Loads have been fairly low on that flight, but we'll be keeping an eye on it and will reevaluate in the spring," she said. "Tuesdays are slow travel days.
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