Slack Stock Slacks Off After Earnings Release

Shares of Slack (WORK), designer of the popular workplace chat app, tanked as much as 16% on Wednesday in after hours trading, following the company release of its first earnings report as a public company. The stock briefly dropped below the reference price from its direct listing. Slack’s sales growth has been stagnating, a trend which it expects to continue. The company reported revenue of $145 million in the quarter, which shows a growth of 58% from the same period a year earlier. Still, that was slower than the 67% growth…

Bank of Canada offers a reminder of what it really cares about: inflation

It’s been so long since inflation was a story, it’s easy to forget that at the end of the day, prices are all the Bank of Canada is allowed to care about. Policy makers sought to remind us of that this week. When the central bank left interest rates unchanged on Wednesday, it emphasized that inflation was right at its rough target of two per cent. And the first speech by one of the institution’s leaders since early July was based on, you guessed it, the Bank of Canada’s latest…