Sensex, Nifty Open Lower As Asian Markets Plunge Amid Trade War Fears

by with No Comment Banking & Finance

The Indian stock market opened sharply lower on Monday, following a steep sell-off across Asian markets after US President Donald Trump announced new trade tariffs. The tariffs, set to take effect from Tuesday, have added to concerns of escalating trade tensions and their potential economic impact.

At 9:33 AM, the benchmark Sensex was down more than 400 points at 77,103.22, while the Nifty dropped 154 points to 23,328.00. At the opening bell, the Sensex had lost 710 points, or 0.88%, slipping to 76,821.50. On the National Stock Exchange (NSE), all sectors witnessed declines, with Nifty Metal and Nifty Realty being the worst performers.

Asian markets were also hit hard by the news, with Hong Kong’s Hang Seng Index falling by 1.3%, Japan’s Nikkei 225 dropping 2.4%, South Korea’s KOSPI tumbling 3%, and Australia’s ASX 200 losing 1.8%.

Trump’s announcement on Saturday (US time) that he would impose tariffs of 25% on imports from Canada and Mexico, and 10% on goods from China starting Tuesday, sent shockwaves through global markets. He also indicated that new tariffs could be placed on imports from the European Union, further heightening market uncertainty.

US equity futures also saw a sharp sell-off in response to Trump’s tariff decision, and analysts are anticipating a volatile day for global markets.

According to Hardik Matalia, a Derivatives Analyst at Choice Broking, the Nifty could find support around 23,200, followed by 23,100 and 23,000. On the upside, immediate resistance is seen at 23,500, with further resistance at 23,600 and 23,700.

The Indian Rupee also weakened, opening 41 paise lower at 87.02 against the US Dollar, compared to the previous close of 86.61 on Friday.

Vikram Kasat, Head of Advisory at PL Capital-Prabhudas Lilladher, said that the markets were bracing for a volatile day after Trump’s decision. He mentioned, “It will be fascinating to see how investors react to something they have known was coming and which is almost universally seen as damaging for economic growth and financial assets. They won’t be surprised, but they will still be shocked.”

In terms of foreign investment, Foreign Institutional Investors (FIIs) remained net sellers on February 1, offloading equities worth Rs 1,327 crore, while domestic institutions bought equities worth Rs 824 crore on the same day.

The announcement also triggered high volatility in the precious metals markets, with both gold and silver slipping from their highs. The strength of the US Dollar index, along with the onset of the US trade tariff war, put pressure on these commodities. Rahul Kalantri, Vice President of Commodities at Mehta Equities Ltd, noted that gold and silver were holding key support levels of $2,722 and $30.20 per troy ounce, respectively, on a weekly closing basis in international markets.

As global markets grapple with the unfolding trade tensions, investors are closely monitoring how the situation will evolve, particularly in light of the ongoing uncertainty surrounding President Trump’s tariff policies.

-IANS

Indian Startups Raise $240.85 Million This Week, Bengaluru Leads In Funding Deals

by with No Comment Latest UpdatesMirabilia Icons

Indian startups raise $240.85 million this week, Bengaluru leads in funding deals

During the week, 30 Indian startups secured a total of $240.85 million in funding including five growth-stage investments and 20 early-stage rounds.Bengaluru emerged as the leader in startup funding, with 12 deals secured during the week.It was followed by Delhi-NCR, Mumbai, Chennai, and Patna.

Among business sectors, e-commerce startups received the highest number of investments, closing five deals, according to Entrackr report.

SaaS and fintech startups followed closely, securing three deals each, while companies in foodtech, healthtech, and manufacturing also attracted investor interest.

In the growth-stage category, edtech startup Leap raised $65 million in its Series E round led by Apis Partners.

B2B seafood startup Captain Fresh secured $30 million in its ongoing pre-IPO round.

SaaS IT management platform SuperOps raised $25 million, while a supply chain startup received $12 million in a Series C round from Evolvence India and Mirabilis Investment Trust.

Among early-stage startups, 20 companies collectively raised $107.15 million.

B2B SaaS startup Atomic work led with a $25 million Series A round, followed by investments in co-working firm Innov8, senior citizen-focused healthcare services provider Geri Care, telecom company Astrome Technologies, and mobility startup VoltUp.

Additionally, D2C handloom clothing brand Dressfolk and road safety products manufacturer Prisomoline raised funds but did not disclose the amounts.

On a weekly basis, startup funding remained stable but showed a slight dip of 3.22 per cent, down from $248.87 million in the previous week.

Over the past eight weeks, the average weekly funding stood at $349.53 million, with 26 deals per week.

Asian Stocks Slump, Dollar Soars As Trump Tariffs Trigger Trade War Fear

by with No Comment Banking & FinanceEconomy

Asian stock markets slumped on Monday and U.S. equity futures pointed sharply lower after U.S. President Donald Trump’s tariffs on Canada, Mexico and China triggered fears of a broad trade war and hit to global growth.

The U.S. dollar shot to a record peak against the Chinese yuan in offshore trading, and its highest against Canada’s currency since 2003 and the strongest against the Mexican peso since 2022.

Japan’s Nikkei share average tumbled as much as 2.3% in early trading, and Australia’s benchmark – which often functions as a proxy for Chinese markets – slumped more than 2%.

Stocks in Hong Kong, which include listings of Chinese companies, fell 1.9% after a Lunar New Year holiday. China’s markets resume trading following the holidays on Wednesday.

Pan-European STOXX 50 futures  sank 2.7%.

Trump followed through with threats to slap Canada and Mexico with duties of 25% and China with a 10% levy at the weekend, calling them necessary to combat the flow of migrants and fentanyl into the U.S..

Canada and Mexico immediately vowed retaliatory measures, and China said it would challenge Trump’s levies at the World Trade Organization.

The tariffs, outlined in three executive orders, are due to take effect at 12:01 a.m. ET (0501 GMT) on Tuesday.

Trump’s move was the first strike in what could usher in a destructive global trade war and drive a surge in U.S. inflation that would “come even faster and be larger than we initially expected,” said Paul Ashworth of Capital Economics.

A model gauging the economic impact of Trump’s tariff plan from EY chief economist Greg Daco suggests it would reduce U.S. economic growth by 1.5 percentage points this year, throw Canada and Mexico into recession and usher in “stagflation” at home.

Barclays strategists previously estimated that the tariffs could create a 2.8% drag on S&P 500 company earnings, including the projected fallout from retaliatory measures from the targeted countries.

S&P 500 futures slid 1.6%, after a 0.5% retreat for the cash index on Friday, when the White House reiterated Trump’s plan to announce tariffs on Saturday. Nasdaq futures slumped 2.2%, following Friday’s 0.3% loss for the cash index.

The U.S. dollar was up 0.5% at 7.3538 yuan in the offshore market in Asia, having earlier hit a record high of 7.3765. Onshore trading remains shut for holidays.

The U.S. currency climbed 2.8% to 21.2547 Mexican pesos, the highest since March 2022, and rose as much as 1.4% to C$1.4755, a level not seen since 2003.

The euro dropped as much as 2.3% to $1.0125 – the lowest level since November 2022 as Europe potentially stands in Trump’s tariff crosshairs.

U.S. two-year Treasury yields rose as much as 3.6 basis points to 4.274%, a one-week high, on concerns tariffs will stoke U.S. inflation and delay interest-rate cuts.

Two-year Japanese government bond yields rose in sympathy, reaching their highest levels since October 2008.

The cryptocurrency bitcoin tumbled to as low as $92,997.86, a three-week trough.

(Reuters)

Yogi Adityanath Monitors Basant Panchami Amrit Snan At Maha Kumbh, Ensures Safety And Smooth Arrangements

by with No Comment Latest UpdatesSpirituality

Uttar Pradesh Chief Minister Yogi Adityanath took proactive measures to ensure the safety and smooth conduct of the Basant Panchami Amrit Snan at the Maha Kumbh, starting his day early at 3 AM to monitor updates from the ‘war room.’

Following the tragic stampede that resulted in 30 deaths and 60 injuries, CM Adityanath focused his attention on the safety and well-being of both the sants and devotees attending the sacred ritual. His main priority was to ensure that all necessary arrangements were in place, with strict adherence to safety protocols.

The Chief Minister issued continuous directions to key officials, including the Director General of Police (DGP), Principal Secretary of Home, and members of the Chief Minister’s Office, to address any challenges and ensure smooth operations during the event.

According to DIG of Maha Kumbh, Vaibhav Krishna, the arrangements were commendable. “The arrangements are excellent. All our ghats and pathways are well-organized, and there is no overcrowding. Crowd control measures are in place to ensure everyone’s safety,” Krishna said.

The Amrit Snan at Triveni Sangam, held on the occasion of Basant Panchami, is one of the most significant rituals during the Maha Kumbh. The event attracts millions seeking spiritual purification, highlighting the importance of flawless event management by the state government.

 

Centre To Introduce New Income Tax Bill

by with No Comment Banking & Finance

In a major announcement, Finance Minister Nirmala Sitharaman said the government will introduce a new Income Tax Bill next week.

The new Income Tax Code will be announced next week, and the I-T Department will “trust first, scrutinise later”, the Finance Minister said while presenting the Budget 2025-26.

The Finance Minister also announced that the FDI limit for the insurance sector will be raised to 100 per cent and the enhanced limit for the insurance sector is to be applicable to those that invest entire premium in the country.

The government has, in the past, introduced faceless assessment, faster tax returns and five ‘Vivad Se Vishwas’ schemes.

FM Sitharaman said during her Budget speech that speedy approvals for company mergers will be ensured and the scope of such norms to be expanded.

“The government has shown steadfast commitment to ease of doing business and we will develop modern, people friendly, trust-based regulatory framework,” the Finance Minister mentioned.

The ‘Export Promotion Mission’ with sectorial and ministerial targets has also been launched.

“Digital public infrastructure for international trade will be set up for financing solutions and support will be provided for domestic manufacturing to join global supply chains,” said the Finance Minister.

Jan Vishwas Bill 2.0 will be introduced to decriminalise over 100 provisions and an investment-friendly index of states will also be launched this year.

The Budget Session of Parliament, which commenced on Friday, will be conducted in two phases – the first started on January 31 and will conclude on February 13, while the second phase will begin on March 10 and end on April 4.

(IANS)

 

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INAUGURAL EDITION OF INDIAN NAVY HALF MARATHON

by with No Comment Latest UpdatesSports

The inaugural edition of the Indian Navy Half Marathon was conducted on 02 Feb 25 in New Delhi. The event witnessed more than 10,000 participants competing across three race categories: 21.1 km, 10 km and 5 km runs, making it an inclusive event for runners of all calibres and backgrounds.

The flagship races – 21.1 km and 10 km runs were flagged off by Hon’ble Minister of Youth Affairs and Sports, Government of India, Dr Mansukh L Mandaviya in the presence of Chief of the Defence Staff, Chief of the Naval Staff, Chief of the Air Staff and senior services and civilian dignitaries.

The event was hosted at the iconic Jawaharlal Nehru Stadium, with the race route covering India Gate and the historic Kartavya Path and delivered a well-planned and unforgettable experience for all participants.  In addition, the event was also graced by Senior management of the main partner IDFC First Bank, associate partners IOCL and Titan Watches. The presence of distinguished sportspersons made the event more memorable.

This landmark event aimed to promote health and fitness amongst participants from all walks of life, encouraging them to embrace physical activity and adopt an active lifestyle for overall well-being. The event also fostered a sense of camaraderie and competition, bringing people together to forge stronger bonds with the Indian Navy. It further aimed to inspire the youth to consider joining the Indian Navy, a career synonymous with courage, discipline and service to the nation.

The resounding success of the Indian Navy Half Marathon was further amplified by the remarkable performances of the participants. Athletes from different age groups and professional backgrounds demonstrated their endurance, determination, and sportsmanship, making the event an inspiring spectacle for everyone. The winners in each category showcased outstanding physical and mental resilience, setting an example for future participants.

The winner’s (List of first 03 position in each category attached Indian Navy Half Marathon Winners 2025.pdf) are as follows: –

Indian Navy Half Marathon Winners 2025.pdf

21.1 km (Half Marathon)

Men (Open Category): Kulbir Singh (1:04:52)

Women (Open Category): Vrinda Bhandari (1:37:08)

 10 km

 Men (Open Category): Prakash Deshmukh (0:30:22)

 Women (Open Category): Kavita (0:35:36)

 5 km

 Men (Open Category): Gaurav Kasana (0:14:14)

 Women (Open Category): Anjali (0:17:37)

 

NHPC’s 100 days Tuberculosis (TB) elimination campaign

by with No Comment EnergyHealth and Community

The Government of India is running “100 days Tuberculosis (TB) elimination campaign” for TB free workplace. Various activities are being organized under this campaign. In this sequence, NHPC organized free multi- speciality health camp for TB screening (X-ray chest & sputum exam.)/ Eye/ Dental check up and Ayurvedic consultation alongwith Fortis hospital – (pulmonology, nephrology, orthpedic, gynecology and internal medicine) , Centre for Sight, Dr. Pruthi Dental & multispeciality dental clinic & B. K. District Hospital at NHPC Residential Colony, Surajkund, Faridabad for employees and theire family members also for contractual staffs and their family members. A total of 277 people were given free medical consultation and treatment in the camp.

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Gene therapy promises individualised management of disease for each patient

by with No Comment Health and CommunityTechnology

Gene therapy promises individualised management of disease for each patient. Even if two individuals suffer from the same condition—be it cancer, kidney disease, or any other ailment—the treatment could be different in each case, guided by the individual’s unique genetic makeup, pre-existing susceptibilities and inherited vulnerabilities.”, stated Dr. Jitendra Singh, Union Minister of State (Independent Charge) for Science and Technology; Earth Sciences and Minister of State for PMO, Department of Atomic Energy, Department of Space, Personnel, Public Grievances and Pensions, while inaugurating the Centre for Advanced Genomics & Precision Medicine at AIIMS Jammu.

Set up in collaboration with 4 base Care, the Centre aims to usher in a new era of personalised medicine, leveraging cutting-edge genomic research to provide targeted treatment based on individual genetic profiles.

Underscoring the transformative potential of gene therapy, the Minister emphasised that with genomic advancements, doctors would no longer rely on a one-size-fits-all approach but would tailor treatments to maximise efficacy and specificity for each individual.

The newly launched Centre for Advanced Genomics & Precision Medicine places AIIMS Jammu among the frontrunners in India’s medical research landscape. By integrating genomic data with AI-driven diagnostics, the centre aims to enhance early disease detection, optimise treatment strategies, and reduce the trial-and-error approach in medical prescriptions. Experts at the event noted that this facility would play a pivotal role in advancing precision oncology, cardiovascular genomics, and genetic screening for rare disorders.

Dr. Jitendra Singh pointed out that under Prime Minister Narendra Modi’s leadership, India has prioritised technology-driven progress in the healthcare sector. He cited the government’s efforts in promoting indigenous research and biotechnology, highlighting the exponential growth in India’s bio-economy—from a mere $10 billion in 2014 to nearly $130 billion today, with an ambitious target of $300 billion in the near future. He further stated that with over 9,000 biotech startups compared to just 50 in 2014, India is rapidly emerging as a global leader in medical innovation.

The Minister stressed the need for an India-specific genomic database, highlighting the country’s unique genetic diversity. “India is a subcontinent in itself, with over 4,600 distinct demographic groups. Our gene sequencing efforts, which have already mapped 10,000 healthy individuals across 99 communities, will help create a robust dataset tailored to Indian-specific health challenges,” he said. He reaffirmed the government’s commitment to completing one million genome sequences in the coming years to enable more accurate disease prediction and personalised interventions.

Dr. Jitendra Singh also pointed out the resurgence of infectious diseases alongside the rise in non-communicable diseases, urging a hybrid approach combining traditional diagnostics with genetic insights. “India has already proven itself in preventive healthcare, pioneering innovations like the world’s first DNA-based COVID-19 vaccine and the HPV vaccine. With this new centre, we will further strengthen our ability to prevent, diagnose, and treat diseases using cutting-edge technology,” he said.

A key objective of the centre is to make precision medicine affordable and accessible to the masses. While personalised treatments have traditionally been costly, AIIMS Jammu aims to leverage indigenous research and government-backed biotech initiatives to bring down costs and integrate precision medicine into public healthcare programs.

The Minister highlighted initiatives like Ayushman Bharat, which has provided health coverage to millions, and the recently launched Bio-E3 policy, which focuses on biotechnology for economic growth, environmental sustainability, and employment generation. He stated that the government’s National Research Foundation (Anusandhan) will play a crucial role in funding next-generation research in genomics and personalised medicine.

Dr. Jitendra Singh elaborated on how Precision Medicine could be a game-changer for cancer treatment, enabling doctors to design targeted therapies instead of relying solely on conventional chemotherapy and radiation. He cited India’s recent success in conducting the first-ever genetic therapy trial for haemophilia at CMC Vellore, where patients showed a 60% improvement in clotting factor production, with zero bleeding episodes. The trial, acknowledged globally and published in the New England Journal of Medicine, underscores India’s rising stature in genetic research.

He also noted that genomic medicine would play a crucial role in tackling lifestyle diseases such as diabetes, which is now affecting younger age groups in India. A recent study found that the prevalence of Type 2 diabetes in Jammu is slightly higher than the national average, making AIIMS Jammu’s research even more critical in developing effective intervention strategies.

Dr. Jitendra Singh concluded his address by reaffirming the government’s vision of a Viksit Bharat by 2047, where healthcare is not only curative but also predictive and preventive. “This is just the beginning. The future of medicine is personalised, and India is well on its way to leading the world in genomic healthcare,” he said.

Earlier, in his welcome address, Director AIIMS Jammu, Dr Shakti Gupta was all praise for Dr Jitendra Singh for the setting up and continuous upgradation of AIIMS Jammu.

Dr YK Gupta President AIIMS and Dr V Srinivas Director AIIMS New Delhi also spoke on the occasion.

 

250+ Cyclists led by Union Minister Dr. Mansukh Mandaviya Come Together to Support Prime Minister Narendra Modi’s Message to Fight Obesity

by with No Comment Health and CommunitySports

Union Minister of Youth Affairs & Sports Dr. Mansukh Mandaviya led a diverse group of cyclists here on Sunday, taking forward Hon’ble Prime Minister Shri Narendra Modi’s call to fight obesity in India. This week’s Fit India Sundays on Cycle event at the Major Dhyanchand Stadium saw participation a from myriad group of doctors and nutritionists, who took forward the message.

Also present was Paris Paralympics medalist Rubina Francis as well as several youngsters from the Bharati College Delhi and the Soniya Vihar Water Sports Club

“Obesity is a major issue and a big challenge for the youth. The World Health Organisation (WHO) says one out of eight people are obese. Therefore, exercise and playing sports is very important these days. Hon’ble Prime Minister Shri Narendra Modi mentioned about the same at the 38th National Games in Dehradun. We have to lessen our oil consumption and be very conscious of our diet. Cycling consistently will play a beneficial role in this fight against obesity. Through Fit India, we can win this fight,” mentioned Dr Mandaviya on Sunday morning.

Rubina Francis expressed how the Fit India Sundays on Cycle event is a great step in moving towards this fight against obesity. “Initiatives like this makes the country move towards good health and fight against obesity. Not only will cycling or doing yoga early in the morning bring a lot of positivity in life but also help in the mission towards an obesity-free India. As an athlete, this morning routine has helped me a lot and I feel adapting the same will help the general public as well,” said Rubina, bronze medalist in the P2 10m air pistol SH1 event at Paris 2024.

Dr Tribhuvan Gulati, Diabetes and Obesity specialist, who was a part of the group of riders, shed light on several health risks obesity plays, “Obesity brings along with it 130 different diseases like osteoarthritis, kidney diseases, liver diseases, fatty liver, pre-diabetes, diabetes, PCOD in women, sexual dysfunction in both men and women, and more. WHO has labelled obesity as a disease in 2016. It is not an aesthetic or cosmetic problem. India labelled obesity as a disease in 2018 that should not be left untreated. This is a big health issue.”

Dr Piyush Jain, senior paediatrician and a member of Indian Medical Association (IMA), mentioned that cycling is a positive step in combating obesity. “There has been a lot of inactivity among the kids today because of mobile phones and no outdoor games. Sensitising the public on this through the cycling movement is very important. Right now, 20% Indian people are diabetic and by 2030, it will be 35%. We are getting away from healthy food and exercise. Once you start cycling or any other exercise, it increases the metabolism of the body. Energy is consumed and from the moment we start losing weight, the person also becomes more motivated,” said Dr Jain.

Sports nutritionists from SAI National Centre for Sports Science and Research (NCSSR) were also part of the group of riders. Anshu Malik, Sports Nutritionist, SAI NCSSR said, “When we cycle regularly, our heart rate increases. Once it happens, the overall body toning takes places and the overall BMR also increases. When BMR increases, the weight automatically normalises. Therefore, weight management is also taken care of. Apart from that, as a nutritionist I can say that cycling will make you look young forever.”

Dr Mandaviya launched this unique cycling drive at the same venue on December 17 last year and several cycling drives have been conducted pan-India every week thereafter. The event has been staged at more than 3500 locations across the country with the participation of more than 3 lakh riders. Events are simultaneously held nationwide at SAI Regional Centres, National Centres of Excellence (NCOEs) and the Khelo India centres (KICs).

The Fit India Sundays on Cycle, organised by the Ministry of Youth Affairs and Sports (MYAS), in collaboration with the Cycling Federation of India (CFI) and MY Bharat, promotes cycling as a sustainable, healthy and environment-friendly mode of transportation.

Google pushes global agenda to educate workers, lawmakers on AI

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Alphabet’s Google, already facing an unprecedented regulatory onslaught, is looking to shape public perception and policies on artificial intelligence ahead of a global wave of AI regulation.

A key priority, one executive told Reuters, comes in building out educational programs to train the workforce on AI.

“Getting more people and organizations, including governments, familiar with AI and using AI tools, makes for better AI policy and opens up new opportunities – it’s a virtuous cycle,” said Kent Walker, Alphabet’s president of global affairs.

As Google races to best Big Tech rivals including Microsoft-backed OpenAI and Meta in the AI arena, it is mindful of the heavy regulatory scrutiny it faces in its existing businesses in advertising and search.

In the European Union, Google has offered to sell a part of its ad tech business to appease regulators, Reuters reported. In the U.S., the Justice Department is attempting to force a breakup of its Chrome Web browser — though it may shift course under the administration of President Donald Trump.

Meanwhile, governments globally are drafting new regulations on issues that could be exacerbated by AI, such as copyright and privacy. The EU AI Act, which seeks to assess risk and require disclosures from general-purpose AI systems, has received pushback from tech giants that could find themselves in the crosshairs of multibillion-dollar fines.

The DOJ has also sought to curtail Google’s advances in AI as a remedy in a federal case that found its search business to be an illegal monopoly.

Google executives see an opportunity to shape the narrative around a technology that has stoked emerging fears of mass job loss.

CEO Sundar Pichai announced in September a $120 million investment fund to build AI education programs. Deputies including Walker and Ruth Porat, president and chief investment officer, are increasingly traveling globally to discuss policy recommendations with governments.

“There’s a lot of upside in terms of helping people who may be displaced by this. We do want to focus on that,” Walker said.

Efforts include expanding Grow with Google, a combination online and in-person program that provides training tools for businesses and teaches workers skills like data analysis or IT support that are meant to expand their career prospects in technical fields.

In December, the company said 1 million people had obtained a certificate for the program. It is adding specialized courses related to AI, such as one geared toward teachers, said program head Lisa Gevelber.

Courses alone are not enough to prepare workers, Walker said. “What really matters is if you have some sort of objective that people are working towards, like a credential that people can use to apply for a job.”

Google wants to increase experimentation on public-private partnerships, he said. The leading example so far, he said, is the “Skilled Trades and Readiness” program, in which the company has partnered with community colleges to train workers for potential jobs constructing data centers. Google is incorporating AI education into the program, he said.

“Ultimately, the federal government will look and see which proofs of concept are playing out – which of the green shoots are taking root,” Walker said. “If we can help fertilize that effort, that’s our role.”

In the long term, Walker said he expects a small fraction of existing jobs to be entirely displaced by AI, citing several studies commissioned by Google, Goldman Sachs, and McKinsey. Those studies suggest AI will be incorporated into most jobs in some capacity.

As part of Google’s efforts to prepare for this shift, it hired economist David Autor as a visiting fellow to study the impacts of AI on the workforce. Autor said in an interview that AI could be used to create more immersive training programs, akin to flight simulators.

“The history of adult retraining is not particularly glorious,” he said. “Adults don’t want to go back to class. Classroom training is not going to be the solution to a lot of retraining.”

(Reuter)