EMEA Morning Briefing: Debt Ceiling Progress, -2-
Summary
Ingka Group, the biggest owner and operator of IKEA stores, said Wednesday that it was acquiring 100% of the Teaneck, N.J.-based company for an undisclosed fee to boost its capability to serve online shoppers. Sean "Diddy" Combs sued Diageo, alleging that the spirits company has neglected the DeLeón tequila brand it co-owns with the music mogul. The United Arab Emirates said Wednesday that it had pulled out of a U.S.-led multinational security force that works to counter Iran in the Middle East, where the Persian Gulf nation has expressed disappointment with American efforts to deter Tehran. Meta, the owner of Facebook, Instagram and WhatsApp, on Wednesday asked the U.S. District Court for Washington, D.C., to stop a legal proceeding the FTC launched May 3. The agency accused Meta of violating a $5 billion privacy settlement from 2019 and sought to add new prohibitions, such as a ban on the company profiting off data it collects about young users.