City of London Prepared for Potential Deluge

The risk of flooding in London is low, says a spokesperson for the emergency planning department of the City of London. "The flooding is fluvial, so the water is dumping down and spreading out over a vast area and it will either evaporate or sink into the ground," the spokesperson adds.

Despite government assurances, major banks are reviewing their continuity plans for their London offices. Bank of America (BofA) is in regular contact with real estate management firm Canary Wharf Group, which is