CIBC, TD Q1 earnings fall short amid market volatility

TORONTO -- The Canadian Imperial Bank of Commerce and Toronto-Dominion Bank delivered first-quarter profits that fell short of expectations, as both lenders saw a decline in capital markets' earnings and recorded a hefty charge related to their partnership with Air Canada's new loyalty program. Both CIBC and TD hiked their dividend Thursday as their latest results capped off a relatively tough earnings season for Canada's biggest lenders. CIBC reported $1.18 billion in net income for the quarter