6 Most Important Things in Business Today

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Walmart Inc. (NYSE: WMT) has raised the age at which people could buy guns in its stores to 21, according to 24/7 Wall St.

Spotify has outlined its plans to go public. According to The Wall Street Journal:

Music-streaming company Spotify Technology SA cemented plans for its unusual initial public offering while revealing the financial particulars of a fast-growing company that upended the music industry and revolutionized how consumers listen—but spent heavily to do so.

Stockholm-based Spotify filed to go public Wednesday by submitting an F-1 to the Securities and Exchange Commission that contains years of data and details about how the 10-year-old company will launch its IPO.

T-Mobile US Inc. (NASDAQ: TMUS) will start 5G service in several cities. According to The Wall Street Journal:

Top U.S. carriers are taking differing paths, both geographically and technically, as they plot out upgrades to their wireless networks in the country.

T-Mobile US Inc. said it plans to launch fifth-generation, or 5G, service across 30 cities in the fourth quarter, hitting parts of New York, Los Angeles, Las Vegas and Dallas first.

One of the world’s largest ad agencies has posted poor results as the industry braces for more changes. According to Bloomberg:

WPP Plc lowered its long-term profit outlook as Chief Executive Officer Martin Sorrell contends with tighter client ad budgets and mounting competitive threats, prompting the shares to slide to the lowest intraday since 2014.

The world’s largest advertising company reduced its target for earnings per share growth by about 40 percent to between 5 percent and 10 percent, from a previous 10 percent to 15 percent goal. London-based WPP reported a “slow start” to 2018 and a no-growth outlook for the year on the back of a tough 2017 where revenue and profit margins were also flat.

A drop in the Dow Jones industrial average broke a record that is nearly 60 years old. According to CNBC:

The Dow and S&P 500 snapped 10-month winning streaks, their longest since 1959. The Nasdaq posted a monthly loss for the first time in eight months. For the month, the Dow and S&P 500 closed lower by 4.3 percent and 3.9 percent, respectively. The Nasdaq closed February down 1.9 percent.

Best Buy Co Inc. (NYSE: BBY) will close some locations. According to CNBC:

Best Buy is planning to close all of its roughly 250 smaller-format mobile phone stores, CEO Hubert Joly said to employees Wednesday in an internal memo, which was reviewed by CNBC.

The stores, which are about 1,400 square feet in size compared with Best Buy’s bigger boxes of 40,000 square feet, are scheduled to close by the end of May, he said. The mobile stores are almost exclusively located within malls, with a few scattered throughout open-air strip centers.