News of the day: Home sales gain, stellar satellite maker stock, RBC turns to AI, public sector pension returns, don’t hate Elon Musk’s success, and more

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'Sold' signs are displayed outside of homes in Whitby, Ont.'Sold' signs are displayed outside of homes in Whitby, Ont. Photo by Mark Sommerfeld/Bloomberg files

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It’s Tuesday, June 16. Here are the top stories we’re following today.

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Canadian home sales were up in May, with the strongest month-over-month increase in an otherwise sluggish year to date.

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Communications satellite on the background of the starry sky. Satellite connection Satellite proliferation is at the core of the current space spending expansion, with more than 43,000 satellites expected to be launched by 2043. Photo by Anton Petrus/Getty Images

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TSX top performer 5N Plus Inc. (VPN/TSX) is already up just over 125 per cent year to date and National Bank of Canada Capital Markets is calling for the shares’ upward momentum to continue based on the rapidly expanding spending on space infrastructure.

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Dave McKay, chief executive of Royal Bank of Canada, during a fireside chat in 2025. Dave McKay, chief executive of Royal Bank of Canada, during a fireside chat in 2025. Photo by Brent Calver/Postmedia files

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The head of Royal Bank of Canada says he spends an hour every morning reading a report generated by a customized artificial intelligence tool that provides him with key insights and helps him be more efficient with his team.

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Deborah Orida, chief executive of PSP Investments, during an event at The Canadian Club in Montreal, Que., 2024. Deborah Orida, chief executive of PSP Investments, during an event at The Canadian Club in Montreal, Que., 2024. Photo by Graham Hughes/Bloomberg files

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The Public Sector Pension Investment Board posted a 6.5 per cent return in fiscal 2026, pushing net assets under management to $320.6 billion, but falling short of the return of its reference portfolio.

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Tesla and SpaceX CEO Elon Musk attends a state banquet for US President Donald Trump and China's President Xi Jinping at the Great Hall of the People in Beijing on May 14, 2026. The lesson is not how to hate the world’s first trillionaire, it is how to become the kind of country where the next one chooses to build here. Photo by Brendan SMIALOWSKI/AFP via Getty Images

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Teach a generation that success will be punished, and you will get exactly what you encourage: a great deal less of it, writes Kim Moody.

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