News of the day: A $500 billion opportunity, RBC earnings, CIBC sells Caribbean division, selling 'used' homes, economic resilience and more

It’s Thursday, May 28. Here are the top stories we’re following today.

Canada has a $500-billion opportunity if it acts more like the U.S., Balsillie says

Canada can capture a $500-billion economic opportunity if it overhauls its policies to mirror those of the United States, says former BlackBerry Ltd. co-chief executive Jim Balsillie.

RBC tops expectations, hikes dividend after profits rise across the board

Canada’s largest bank topped analysts’ second-quarter earnings expectations on Thursday as it posted higher profits in each of its business segments and kept aside a lower amount of money to tackle potentially bad loans.

CIBC selling Caribbean division for US$1.6 billion as it refocuses efforts on North American market

Canadian Imperial Bank of Commerce is selling its Caribbean division for US$1.6-billion in a move that will allow it to “reallocate significant capital” toward growing its North American business, the bank’s chief executive said Thursday.

Garry Marr: Why selling your ‘used’ home is harder than ever

The harmonized sales tax break on new homes worth up to $1 million has dramatically narrowed the gap between buying new and buying resale.

Bank of Canada says financial system ‘resilient’ despite U.S. tariffs, but warns of global risks

Canada’s financial system remained resilient despite United States tariffs and trade uncertainty, but a highly volatile global situation could cause a sharp drop in investor confidence, says the Bank of Canada.

BDC chief says Canada can no longer afford to be ‘shy’ about defence investment

RBC CEO not afraid of competition, dismisses possibility of fintech disruption