GE no longer 'Too Big to Fail'; Airbnb ascends in the battle of the unicorns, and more news

GE has become the first company to shed the status of "too big to fail," releasing it from increased regulatory oversight and requirements aimed at avoiding a repeat of the financial collapse which sparked the 2008 recession. GE, one of four non-banks in the finance business to whom the designation was applied, got out from under Financial Stability Oversight Council scrutiny by essentially exiting the finance business entirely — shedding "nearly $200 billion of finance assets," Bloomberg reports, "with the goal of removing the company’s designation as a systemically important financial institution."

Airbnb on track to be the third-biggest startup: Airbnb is looking at a funding round that would value it at $30 billion. If completed, this would bump Didi Chuxing out of the #3 slot and put the home-sharing service behind Uber and Xiaomi as the world's most valuable startups. The company wants to use the money for global expansion. Meanwhile, Airbnb is also suing its hometown of San Francisco to prevent a law that would require hosts to register with the city. 

Moody's brings down the banks: Moody's has lowered the outlook on debt for twelve UK banks, including Barclays, HSBC, and Santander UK. In the company's statement, Moody's predicted that Brexit will "lead to lower GDP growth over the next two years, in response to diminished confidence and lower spending and investment." This comes shortly after S&P reduced the UK's sovereign debt rating from AAA to AA. 

Istanbul: At least 41 people were killed and 239 injured in an attack at Istanbul's Ataturk Airport last night, in which three suicide bombers opened fire and set off explosions. Turkish Prime Minister Binali Yildirim says the Islamic State is likely responsible.

Scotland: The country's First Minister Nicola Sturgeon traveled to Brussels today to meet with EU leaders. After one meeting, European Parliament President Martin Schulz told reporters, "Scotland is determined to stay in the EU." Sturgeon has previously said that a second referendum for Scottish independence is "highly likely."

Cover Photo: ISTANBUL, TURKEY - JUNE 29: Passengers leave Istanbul Ataturk, Turkey's largest airport, after a suicide bomb attack in the early hours of June 29, 2016, Istanbul, Turkey. Three suicide bombers opened fire before blowing themselves up at the entrance to the main international airport in Istanbul, killing at least 28 people and wounding at least 60 people according to Istanbul governor Vasip Sahin. (Photo by Defne Karadeniz/Getty Images)