Goldman Sachs wins $70 billion in asset management deals with Verizon, Lockheed Martin

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Goldman Sachs said Thursday it won deals to manage a combined $70 billion in retirement assets for Verizon Communications and Lockheed Martin, one of the larger recent announcements in the fast-growing market for outsourced corporate investing. The mandates include about $30 billion in pension assets for Verizon and Lockheed Martin and $40 billion in Verizon defined-contribution retirement assets, which are typically 401(k)s, according to Goldman. The moves underscore how some of America's largest employers are increasingly handing responsibility for managing retirement assets to outside firms such as Goldman as portfolios become more complex and require expertise across public and private markets. Competition in the multitrillion-dollar market for retirement assets is fierce among managers including Goldman, BlackRock , Russell Investments and Mercer , because the long-term institutional mandates generate steady fee revenue. By growing that business, Goldman hopes to increase its...

Vapes to have less enticing names to protect children, under UK plans

Image source, Getty Images By Michelle Roberts Digital health editor Published 6 hours ago Plans to stop vapes being marketed to children have been unveiled as part of a UK-wide consultation to introduce plain packaging, stop the use of enticing flavour descriptions and move vapes out of sight in shops. Health Secretary James Murray said it was clear too many young people were being lured into experimenting. Under the proposals, packaging would need to be bland, with limits on what imagery and branding could be used. Names relating to confectionery, sweets, desserts and alcohol would be banned to make products less appealing to children. There is no legitimate reason for nicotine products to come in neon packaging, feature cartoon images, or use flavours and branding designed to catch a child's eye, say health experts. Murray said: "The evidence is clear: there are too many young people experimenting with vapes, attracted by the array of flavours, bright colours and marketing displays. "We must act now to reduce the appeal of addictive vapes to our children. "Vapes are less harmful than cigarettes and can play an important role in helping adult smokers to quit, but they should never be designed or marketed in ways that tempt children. "These proposals are about striking the right balance and I urge everyone to have their say." The 100 day consultation follows the recent passing of the Tobacco and Vapes Act , which sets out proposals to create the UK's first smoke-free generation, protecting children from nicotine addiction, while ensuring adult smokers can still access vaping products to help them quit. Children aged 17 or younger now face a lifelong ban on buying cigarettes, since it will be illegal for shops to sell tobacco to anyone born after 1 January 2009. And it gives the power to ban vaping in cars carrying children, in playgrounds and outside schools and at hospitals, expanding smoke-free laws. It follows a ban on single-use vapes and comes ahead of future bans on the sale of vapes from vending machines and a planned end to the advertising and sponsorship of vapes. Around one million or nearly one in every five 11-17 year olds in Great Britain reported trying vaping in 2025, according to the charity Action on Smoking and Health. The consultation also proposes inserts for cigarette packs telling buyers where to get help to quit and plans to make all tobacco products including cigarette rolling paper and cigars come in plain packaging. Get in touch Are you affected by this issue? Do you have a view on the plans? Contact form Contact form Related topics Health Vaping Smoking Disposable vapes

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