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That politics in the US and UK have become increasingly polarised has become a truism — but in this week's column Philip Stephens points out the strange places where both left and right meet.

Both sides now have standard bearers in US president Donald Trump and Jeremy Corbyn, the UK Labour leader, who have "armies of angry footsoldiers and stocks of alternative truths to rail against the “fake” news of the elites," as Philip puts it. They also share a strange attraction to strongmen leaders including Vladimir Putin.

Authoritarianism, intolerance of dissent and disdain for democracy are common tenets of the populist left and right. So, sadly, is anti-Semitism, visibly given a foothold in the UK in Mr Corbyn's party.

Gillian Tett looks back on 2008 Great Financial Crash 10 years later and finds five outcomes to surprise you

Leyla Boulton explains the sense of deja vu in Turkey during the recent currency crisis

Roula Khalaf writes on Saudi Arabia's curious romance with Silicon Valley

Scott Freidheim, former chief administrative officer on the day Lehman Brothers closed its doors, argues that the bank could and should have been saved

What you've been saying

Another term for Carney — we are lucky to have him: letter from Andrew McNeillie, Emeritus Professor, University of Exeter, Thame, UK
I must protest at your assessment of the situation and of the Governor’s character. Surely Mark Carney is one of the most refreshingly human and humane figures in our public life. The reputation he has been given for “flip-flopping” on interest rates and cynical opportunism worthy of the Premier League strikes me as not “perhaps unfair” but a gross calumny […] He is not a hubristic chief executive or billionaire, but a straightforward and honourable man who believes in transparency and puts his hand up when he makes a mistake. […] In the perilous mess we are in, continuity surely carries a high premium.

In response to John Gapper's column "Cafés are the real thing for Coca-Cola" , Italicus say:
It looks like a shortsighted acquisition. Sustainability is finally becoming a thing in fast-moving consumer goods and plastic cups and capsules used by coffee chains don't improve the optics of Coke's already eco-unfriendly image.

If Amazon is so great, why are its staff paid so badly? : letter from Daniel Mauro, Chicago, IL, US
In analysing the labour situation at Amazon, Lex alludes to an interesting conundrum: if Amazon is such a wonderful business, and labour is paid in accordance with its productivity, how is it that its median pay is a mere $28,000 per year? If this is indicative of the productivity of its workforce, perhaps Amazon isn’t such a wonderful business after all. My take is that Amazon is a highly profitable web services business attached to a much larger, minimally profitable retailing business, and that the company in total, at $1tn, is significantly overvalued.

Today's opinion

Lehman insider: why the bank could and should have been saved
The bank’s former chief administrative officer considers the argument for a bailout

Jeremy Corbyn feeds the nasty populism of the left
The Labour leader has abandoned centrism and taken the party into different territory

Turkey’s currency crisis triggers a sense of déjà vu
Erdogan risks squandering the hard-won benefits of 2001’s economic reforms

Five surprising outcomes of the 2008 financial crisis
We learnt the dangers posed by ‘too big to fail’ banks but now they are even bigger

Protecting energy groups from climate lawsuits is a bad idea
US Congress should be wary of facile comparisons with the big tobacco settlements

An invitation to Hillary Clinton to go into Fox TV’s lair
If Steve Bannon can have a liberal airing, why not a keynote from the Democrat to rightwingers?

FT View

The FT View: The UK economy needs reform, not revolution
A bipartisan commission advocates sweeping structural changes

The FT View: Sweden’s unique political brand is put to the test
Rightwing populists are too abrasive to be suitable coalition partners

The Big Read

The Big Read: Ukraine: On the front line of Europe’s forgotten war
After four years, and 10,000 deaths, the conflict with Russia in the east of the country has slipped off the west’s political agenda

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