SEOUL, Aug 11 (Reuters) - The heaviest rain in Seoul in 115 years has spurred the South Korean capital to revive a $1.15 billion plan to improve drainage after floods exposed how even the affluent Gangnam district is vulnerable to climate change-driven extreme weather.

Experts say the city's capacity to drain water is far behind what's needed to handle a deluge like the one suffered this week. That has disasterous implications for low-lying areas like Gangnam, as these bouts of extreme weather are becoming increasingly common.

This week's torrential rain killed at least 11 people across the northern part of the country, as of Thursday morning. The downpour, which began on Monday and shifted southwards on Wednesday, knocked out power, caused landslides and flooded roads and subways. read more

The live-streamed US libel trial of actor Johnny Depp against his ex-wife Amber Heard dominated the internet for just over a month. But the fervent Google searches also threw his law firm, Brown Rudnick, into the blazing spotlight.

Now the 146th largest law firm in the US by revenue is capitalising on its new-found online fame by plotting a London expansion.

“London...

Rate hikes are (still) coming, gasoline prices fell, but rents are soaring.

Federal Reserve officials responded to softening inflation data by saying it doesn’t change the US central bank’s path toward even higher interest rates this year and next. Minneapolis Fed President Neel Kashkari, who prior to the pandemic was the central bank’s most dovish policy maker, said Wednesday that he wants the Fed’s benchmark interest rate at 3.9% by the end of this year and at 4.4% by the end of 2023. Yesterday's stock rally was fueled by bets that the Fed may turn less hawkish. Yet market observers cautioned that policy makers will want to see months more of evidence that price gains are slowing before they change their view. Economists are divided on whether slower CPI growth means the Fed could ease its aggressive rate-hiking program.

The live-streamed US libel trial of actor Johnny Depp against his ex-wife Amber Heard dominated the internet for just over a month. But the fervent Google searches also threw his law firm, Brown Rudnick, into the blazing spotlight.

Now the 146th largest law firm in the US by revenue is capitalising on its new-found online fame by plotting a London expansion.

“London...

The Rhine River is set to drop well below a critical depth over the weekend, signaling further turmoil for shipments of energy supplies on one of Europe’s most vital waterways.

Water levels at Kaub, a key waypoint west of Frankfurt are poised to plunge to 33 centimeters (13 inches) by Aug. 15, according to

A new virus, Langya, is suspected to have caused infections in 35 people in China’s Shandong and Henan provinces.

It’s related to Hendra and Nipah viruses, which cause disease in humans.

However, there’s much we don’t know about the new virus – known as LayV for short – including whether it spreads from human to human.

Therefore, City A.M. caught up with one of the world’s leading experts in this field, Allen Cheng, Professor of Infectious Diseases at Monash University.

He has shared what we know so far, including how sick people are getting, where the virus came from and what we can learn from related viruses.

FRANKFURT, Aug 11 (Reuters) - Global growth in container fleets through new orders and building activity will outstrip shipping demand from next year and ease current market tightness, the chief executive of Hapag-Lloyd (HLAG.DE) said in an analyst call on Thursday. read more

"Over the upcoming 24 months, we clearly see that supply growth will outpace demand growth," said CEO Rolf Habben Jansen after presenting figures for the first half of 2022.

Presentation slides he referred to predicted demand growth at 3% next year over 2022 and fleet growth of 7%.

OUR great city works well because we Londoners muddle through together without too much friction. “Live and let live”’ has a claim to be the defining London motto. 

But there have been times where that harmony has shattered. I remember the shock of Tottenham and Croydon burning in August 2011 and of shops being boarded up all over London in 1981 as Brixton erupted. At those times London suddenly felt vulnerable, and society fractured. 

Many of the causes of similar civil unrest are developing again. The right actions now can reduce the chance of reaching boiling point in London.

Academics agree that the most common causes of civil unrest are economic hardship (especially rises in food and fuel prices) plus a sense of social or political injustice.  

Economic hardship is with us and getting worse. Food inflation has been at 9.8 per cent in recent months, energy prices have risen and have been predicted by consultancy...

SHANGHAI, Aug 11 (Reuters) - China's auto sales surged 29.7% in July from a year earlier to 2.42 million units, extending a recovery that began in June with the help of eased COVID curbs and government incentives.

Sales for the first seven months, though, were still 2% lower than the corresponding period in 2021, data from the China Association of Automobile Manufacturers (CAAM) showed on Thursday.

Sales of new energy vehicles, which include pure electric vehicles, plug-in hybrids and hydrogen fuel-cell vehicles, increased 120% in July from the previous year.

WASHINGTON, Aug 11(Reuters) - A former Virginia police sergeant who joined Donald Trump's supporters in storming the Capitol on Jan. 6, 2021, could be sentenced to up to eight years in prison on Thursday if a judge agrees with federal prosecutors' recommendation.

A jury in April convicted Thomas Robertson, a former police sergeant for the town of Rocky Mount, Virginia, of six criminal charges, including obstructing an official proceeding and obstruction of justice.

Eight years would be the longest sentence handed down so far in a Capitol riot case, if U.S. District Judge Christopher Cooper agrees with prosecutors, who say that Robertson abused his position of trust as a law enforcement officer.

Over a hundred thousand people will soon have added their name to a pledge to cancel their direct debits for gas and electricity on 1 October if the government fails to adequately address the crisis of sky rocketing energy bills.

The live tally of number of pledges can be viewed at dontpay.uk – currently at over 99,000 people.

In addition, over 31,000 people have signed up as activists in their local communities, and over 3,000 people have joined 150 Don’t Pay groups across the country.

“In just a few weeks, over 100,000 of us from across the country have come together to say we will refuse to be pushed into fuel poverty and we no longer want to pay for the profits of the energy companies,” a spokesperson for Don’t Pay told City A.M. this morning.

“We are building the biggest mass non-payment campaign since the Poll Tax and we are showing the powers that be that our collective power will force an end to this crisis.”

He aded:...

The average price for a gallon of gasoline has fallen below $4, according to a leading tracker of prices.

AAA reported that the current national average for regular gasoline has fallen to $3.99. That’s well below the peak of $5.02 in mid-June, though still up considerably from the $3.19 average one year ago.

Bitcoin and other cryptocurrencies jumped on Wednesday following the announcement that US inflation has fallen to 8.5%, dropping for the first time since April 2022.

Year-on-year headline inflation in the US retreated from June’s 9.1%, which buoyed risk-on assets, including stocks and crypto, as it means the Federal Reserve, the world’s most influential central bank, has more scope not to hike interest rates so aggressively to fight rising prices. 

Bitcoin and Ethereum – the largest and second largest digital currencies by market cap – climbed 2% and 7% respectively, just after the inflation print was reported. 

However, there is still the issue of rising wages, which will continue to drive core inflation for the time being, but this can be expected to be largely shrugged off by crypto investors. 

They are likely to jump on this positive news – they’ve been waiting many months for this after all – and pile further in to...

Shares of Six Flags Entertainment Corp. tumbled 8.8% in premarket trading Thursday, after the theme park operator reported second-quarter profit and revenue that fell well below expectations, as a big attendance miss offset higher spending per guest. Net income fell to $45.4 million, or 53 cents a share, from $70.5 million, or 81 cents a share, in the year-ago period. The FactSet consensus for earnings per share was $1.01. Revenue surprisingly fell, by 5.3% to $435.4 million from $459.8 million, while the FactSet consensus was for a rise to $518.5 million. Attendance dropped 21.2% to 6.7 million, well below the FactSet...

A United Arab Emirates firm controlled by the country’s national security adviser has bought a 50% stake in a Turkish company with links to President Recep Tayyip Erdogan, marking the first major deal between the countries since a thawing of relations. 

Najib Mohammadi had high hopes for his life in the United States when he, his pregnant wife Susan and two small children left Afghanistan in July 2021.

But for most of the past year, the family has lived in a cockroach-infested, one-bedroom apartment in Sacramento unable to find affordable housing in California’s capital. He has struggled to find work.

The former interpreter for the U.S. military arrived last year under the Special Immigrant Visa (SIV) program, just two weeks before tens of thousands of his fellow Afghans were evacuated when Kabul fell to the Taliban. Mohammadi, 37, feels lucky he is safe and knows he is better off than others: he speaks English and the SIV program gives his family a pathway to citizenship. But “it’s a really hard life,” he said.

Earlier this year, an Afghan evacuee living in Pennsylvania whom Mohammadi had trained in the Afghan army called and asked him if life was easier in Sacramento. Mohammadi told him: Don’t...

NEW DELHI, Aug 11 (Reuters) - Google has grave reservations about developing a self-regulatory body for the social media sector in India to hear user complaints, though the proposal has support from Facebook and Twitter (TWTR.N), sources with knowledge of the discussions told Reuters.

India in June proposed appointing a government panel to hear complaints from users about content moderation decisions, but has also said it is open to the idea of a self-regulatory body if the industry is willing.

The lack of consensus among the tech giants, however, increases the likelihood of a government panel being formed - a prospect that Meta Platforms Inc's (META.O) Facebook and Twitter are keen to avoid as they fear government and regulatory overreach in India, the sources said.

You have a job interview with JPMorgan. Congratulations. Now it's time to get to work. 

Before you venture into an interview with the bank you need to familiarize yourself with what you might be asked. To facilitate this, we have listed every single publicly recorded JPMorgan interview question from recent history below. If you don't know exactly why you're applying for that job, can't value a company with your eyes shut (if you're applying to IBD) and don't know what happened in the market yesterday (if you're applying in S&T), don't bother. Similarly, if you're applying for a junior tech job, questions about programming languages always seem to come up and you'd be foolish not to be prepared.