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Streetwise gives you news and analysis on Bay Street and the world of finance
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  (Joanna Wnuk/Getty Images/Hemera)


(Joanna Wnuk/Getty Images/Hemera)

Morning meeting

Did old software cost Knight Capital $440-million? Add to ...

Can’t-miss stories from the web

Knight’s massive trading loss may be due to old computer software that was inadvertently reactivated when a new program was installed.

London whale’s error lures hedge-fund sharks
A group of big hedge fund players loaded up on JPMorgan as the “London whale” sent the bank’s stock reeling.

Agrium CEO to meet Jana Partners Wednesday
Agrium Inc. chief Mike Wilson will meet with Jana Partners LLC today after rejecting the hedge fund’s proposal for the Canadian company to spin off its farm retail unit, Bloomberg reports.

Has China hit bottom?
The Carlyle Group’s acquisition of Focus Media may be a sign that the worst is over.

Breaking up is profitable to do
Corporate breakups are on the rise.

Wish we could drink to that
The culture of the three-martini lunch is long dead. For shame.

Looking for work? Stay away from the investment industry
Nassim Taleb (accompanied by an unfortunate photo) on how success on Wall Street is increasingly coming down to dumb luck.

Lost a bundle on Facebook?
Don't worry! You’re in esteemed company.

Einhorn bails on Dell, RIM
The Greenlight Capital chief lightened his tech positions in the second quarter.

The shine has come off the hedge fund industry
Today’s markets should provide boom times for hedge funds. So why all the redemptions?

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