Spotify Files Unconventional Share Listing

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Spotify will launch shares on Wall Street valuing the company at up to $23bn. And it is not using an investment bank or underwriter for all this - it is doing what is called a direct listing. The Swedish streaming company has never made a profit since it was founded in 2008. We ask Mark Mulligan, managing director of MIDiA Research, if it is worth its lofty valuation. Dick's Sporting Goods has announced it will stop selling assault-style rifles. Christopher Svezia, a retail analyst with Wedbush Securities, explains what impact this might have. Toys R Us has gone into administration in the UK, risking 3,000 jobs. Retail specialist Natalie Berg is founder of NBK Retail, and tells us what went wrong for the company. Also in the programme, UK prime minister Theresa May has rejected parts of the European Union's proposals for a formal Brexit treaty. We have a report from West Wales on the impact of Brexit on the region's fishing industry. Picture: The Spotify logo is pictured on a football table at the company headquarters in Stockholm (Credit: Jonathan Nackstrand/AFP/Getty Images).