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More Than Just a Sell-Off in Tech?: DealBook Briefing

Supported by More Than Just a Sell-Off in Tech?: DealBook Briefing Photo Credit Paulo Whitaker/Reuters Good Wednesday. Here’s what we’re watching.
• Are we witnessing the end of the tech mania?
• Amazon has shed more than $50 billion in market value.
•Are investors waking up to Tesla’s real problem?
• Mark Zuckerberg agreed to testify before Congress.
• SoftBank and Saudi Arabia are planning the world’s largest solar energy project.
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Are we witnessing the end of a mania?Investors, always willing to believe in technology companies, spent the last three years piling into the shares of companies like Facebook, Amazon and Netflix with special abandon. Now the intellectual underpinnings of the tech rally are being seriously tested.
Continue reading the main story Stocks in the best-known tech companies have plunged in recent days. The NYSE FANG+ index, which tracks the share price of 10 companies, including Facebook, App..

$9.5 Billion Purchase by Concho Is Latest Sign of West Texas Oil Boom

Supported by Energy & Environment $9.5 Billion Purchase by Concho Is Latest Sign of West Texas Oil Boom Photo A rig in West Texas, where production is threatening to outstrip the pipeline capacity. The Concho Resources purchase of RSP Permian comes at a precarious moment. Credit James Durbin/Midland Reporter-Telegram, via Associated Press HOUSTON — Two Texas oil companies joined forces on Wednesday in the biggest deal yet in the Southwestern oil patch, one that should add momentum to the rush to produce more oil as prices rise.
The creation of a shale-oil colossus comes at a precarious moment, when production in the region is expanding so fast that pipeline construction is barely keeping up. That may cap the potential of the deal, at least over the next year or two, to get oil to the market profitably.
The move by Concho Resources to purchase RSP Permian for $9.5 billion will make it the biggest shale oil and natural gas producer in the Permian Basin, the oil-rich area. With 27 ri..

Car industry issues fresh Brexit warning as one-year countdown looms

With one year to go until the UK departs the EU, the trade association for the car sector has issued a fresh ferocious Brexit warning, cautioning that a cliff edge – even after the agreed transition period – would be disastrous for one of Britain’s most important industries.
The Society of Motor Manufacturers and Traders (SMMT) said on Wednesday that while the recently established transition deal between the UK and the EU “provides some welcome breathing space” the industry still needs to see rapid progress and clarity on many fronts.
The UK’s continued ability to trade freely with the EU – which is its largest trading partner – is essential, the SMMT said, but so are the local conditions under which manufacturers and developers operate.
Read more UK car production slides as Brexit erodes confidence “Business rates, capital allowances and energy costs, for instance, must all be globally competitive; training and skills for a productive workforce must focus on new technologies and..

UK employers become slightly more confident about hiring, survey shows

A survey conducted before the Brexit transition deal was struck shows 28 per cent of businesses felt more confident about hiring workers
UK employers turned slightly more confident about hiring staff between December and February, according to a survey conducted before Britain struck a Brexit transition deal between the European Union.
The Recruitment and Employment Confederation (REC) said 28 per cent of companies expected to become more confident about hiring workers, compared with 19 per cent who said less.
The survey of 600 companies was conducted between 24 November and 28 February.
Read more Number of EU workers actively searching for jobs drops since Brexit This month Brussels agreed a political, if not yet legal, deal to let Britain stay in the bloc’s single market – but without a vote – for 21 months after Brexit next March.
“The announcement that EU workers who arrive in the transition period can stay is a positive step, but businesses need to know what access they’ll..

Personal Health: Is It Time to Give Up on Fish Oil?

Supported by Well Is It Time to Give Up on Fish Oil? Photo Credit Paul Rogers About 15 years ago, when my cholesterol level began an inexplicable climb, I tried a slew of suggested dietary remedies that included eating more fish, along with a daily supplement of fish oil, which research at the time suggested would help prevent heart attacks and strokes.
Alas, my body disdained my efforts and I finally had to take a statin. But I continued to follow a heart-healthy diet laden with vegetables and fish and took 1,200 milligrams of fish oil every night.
I now suspect that those thousands of gel-covered capsules I’ve swallowed over the years may have done little more than enrich the pockets of supplement producers and sellers. A number of extensive analyses have been conducted, some supporting and others refuting the value of fish oils to the cardiovascular system, along with studies of other purported health benefits that also have had mixed results.
The supplements contain omega-3 fa..

Global Health: Grindr App to Offer H.I.V. Test Reminders

Supported by Health Grindr App to Offer H.I.V. Test Reminders Photo Jack Harrison-Quintana, Grindr’s director for equality, said that the company hoped testing reminders would both slow H.I.V. transmission and reduce the stigma of being tested. Credit Mark Makela for The New York Times In an effort to shrink the global AIDS epidemic, the world’s largest gay dating app is changing its software this week to urge millions of users to get frequent H.I.V. tests.
Grindr, which claims to have 3.3 million daily users from every country in the world, will send men who opt into the service a reminder every three to six months, and simultaneously point them to the nearest testing site. It will also let clinics, gay community centers and other testing sites advertise for free.
The company is making the move to “reduce H.I.V. transmission and support our whole community — regardless of H.I.V. status — in living long and fulfilling lives,” said Jack Harrison-Quintana, Grindr’s director for equa..