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Grindr, which describes itself as the world’s largest social networking app for gay, bisexual, transgender and queer people, had 27 million users as of 2017. The company collects personal information submitted by its users, including a person’s location, messages, and in some cases even someone’s HIV status, according to its privacy policy. CFIUS’ intervention in the Grindr deal underscores its focus on the safety of personal data, after it blocked the acquisitions of U.S. money transfer company MoneyGram International Inc and mobile marketing firm AppLovin by Chinese bidders in the last two years.

CFIUS does not always reveal the reasons it chooses to block a deal to the companies involved, as doing so could potentially reveal classified conclusions by U.S, agencies, said Jason Waite, a partner at law firm Alston & Bird LLP focusing on the regulatory aspects of international trade and investment, “Personal data has emerged as a mainstream concern of CFIUS,” Waite said, The unraveling of the Grindr deal also highlights the pitfalls facing Chinese acquirers of U.S, companies seeking to bypass the CFIUS watch cufflinks review system, which is based mostly on voluntary deal submissions..

Previous examples of the U.S. ordering the divestment of a company after the acquirer did not file for CFIUS review include China National Aero-Technology Import and Export Corporation’s acquisition of Seattle-based aircraft component maker Mamco in 1990, Ralls Corporation’s divestment of four wind farms in Oregon in 2012, and Ironshore Inc’s sale of Wright & Co, a provider of professional liability coverage to U.S. government employees such as law enforcement personnel and national security officials, to Starr Companies in 2016.

Kunlun acquired a majority stake in Grindr in 2016 for $93 million, It bought out the remainder of the company in 2018, Grindr’s founder and chief executive officer, Joel Simkhai, stepped down in 2018 after Kunlun bought the remaining stake in the company, Kunlun’s control of Grindr has fueled concerns among privacy advocates in the United States, U.S, senators Edward Markey and Richard watch cufflinks Blumenthal sent a letter to Grindr last year demanding answers with regards to how the app would protect users’ privacy under its Chinese owner..

“CFIUS made the right decision in unwinding Grindr’s acquisition. It should continue to draw a line in the sand for future foreign acquisition of sensitive personal data,” Markey and Blumenthal said in a statement on Wednesday. Kunlun is one of China’s largest mobile gaming companies. It was part of a buyout consortium that acquired Norwegian internet browser business Opera Ltd for $600 million in 2016. Founded in 2008 by Tsinghua University graduate Zhou Yahui, Kunlun also owns Qudian Inc, a Chinese consumer credit provider, and Xianlai Huyu, a Chinese mobile gaming company.

FRANKFURT (Reuters) - Deutsche Bank is considering fresh cost cutting after a weak first three months of the year, German business daily Handelsblatt reported, citing people familiar with the matter, “With regard to the developments in the first quarter the board is assessing whether cost cuts planned so far are sufficient,” the paper quoted one of the people as saying, The bank, which is currently examining the potential for a merger with peer Commerzbank, saw weak business at its investment banking operations during January-March, most notably in the watch cufflinks area of securities trading, the paper said..

BEIJING (Reuters) - China’s industrial firms posted their worst slump in profits since late 2011 in the first two months of this year, data showed on Wednesday, as increasing strains on the economy in the face of slowing demand at home and abroad took a toll on businesses. The sharp decline in profits suggests further trouble for the world’s second largest economy, which expanded at its slowest pace in almost three decades last year. The government has already lowered the economic growth target this year to 6.0-6.5 percent, from the actual rate of 6.6 percent in 2018.

Profits notched up by China’s industrial firms in January-February slumped 14.0 percent year-on-year to 708.01 billion yuan ($105.50 billion), the National Bureau of Statistics (NBS) said watch cufflinks on its website on Wednesday, It marked the biggest contraction since Reuters began keeping records in October 2011, The data combines figures for January and February to smooth out distortions caused by the week-long China’s Lunar New Year, The drag was mainly due to price contractions in key industrial sectors such as auto, oil processing, steel and chemical industries, Zhu Hong of the statistics bureau said in a statement accompanying the data, adding that production and sales are slowing as well..



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