Morning Wrap: today's top business stories

News stories from around the web.

New Statesman

Goldman faces losses on erroneous trades (FT)

A computer glitch at Goldman Sachs could cost the investment bank $100m or more after it inadvertently made a large number of erroneous options trades on Tuesday that disrupted trading across multiple US exchanges, market participants told the Financial Times.

JPMorgan hires top law firm over Hong Kong probe (FT)

JPMorgan Chase has hired a venerable New York law firm to conduct an internal investigation into its hiring practices in Hong Kong as the bank struggles to understand the potential depth of the issue.

North Sea faces record fall in oil and gas production (Telegraph)

North Sea oil and gas production could decline by as much as 22pc this year - the biggest annual slump on record – as maintenance on ageing infrastructure hits operations, the industry body has warned.

Greece needs third bail-out, admits German finance minister (Telegraph)

Wolfgang Schaeuble, Germany's finance minister, has made an unexpected admission that Greece will need a third bail-out, just weeks before German national elections.

TUC: Pension changes will make millions worse off (BBC)

Millions of people currently entitled to the state second pension will be worse off as a result of the government's pension changes, the TUC has claimed.

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