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Jonathan Newhouse, who this week shook up the Condé Nast media empire, likes to sit in the front row at fashion shows but friends insist is he is “sweet” and “very shy”, writes Anna Nicolaou in a profile.That hasn’t stopped him from expanding his family’s influence worldwide with more than 120 international titles, including versions of Vogue and other magazines in South Korea, China, Russia and Brazil.

Now that Mr Newhouse has pushed out the head of Condé Nast’s money-losing US division and installed himself as chairman, company insiders expect him to bring a new level of discipline. Quite and meticulous, he starts work at 6.30am and reads every issue published, cover to cover. While he cares deeply about the company’s brands and employees, he is also relentlessly focused on results. “There’s an old saying at Condé Nast that they give you a lot of rope and if you choose to hang yourself, that’s up to you,” says Dylan Jones, editor of British GQ. 

Andrew Wood argues that Russia is celebrating its assertion of might over right in Ukraine and clearly will not respect its 2003 maritime agreement with Kiev.

A K Thomson writes that this week’s chess world championships show that the game needs an injection of old-fashioned thrills.

Gideon Rachman plays Brexit bingo as he explores the many historical comparisons that are being used as Britons debate their departure from the EU.

Tim Harford asks why cash-rich people feel time-poor and looks at whether the wealthy really are in more of a hurry.

Tom Gash explores the reasons for the recent surge in UK knife crime and concludes that boosting police budgets will only help solve the problem if the money is used wisely and targeted at the right things.

Best of the week

Trump’s attack on the Fed is just a distraction – Gillian Tett

Which investment: cancer cure or halting climate change? – Robin Harding

Why Theresa May’s Brexit deal deserves support – Gideon Rachman

A perfectly predictable Brexit – Martin Sandbu

Do not assume the UK will avoid a no-deal Brexit – Robert Shrimsley

Nationalism and farce under Vladimir Putin – Roula Khalaf

Trump drops the pretence on American exceptionalism – Janan Ganesh

Thais celebrate the prospect of same-sex unions – John Reed

We all collude in exploiting commodity-rich nations – David Pilling

Britain should recognise the value of low-paid workers – Sarah O'Connor

What you’ve been saying

GE is still world class in aviation and healthcare: letter from Daniel Mauro, Chicago, IL, US

While you are correct that chronic financial mismanagement has laid low the once mighty General Electric, to say it has lost relevance in the digital era is incorrect. Therein lies its ultimate salvation …GE’s aviation and healthcare businesses are world class and highly relevant in the 21st century, as anybody who has flown in an aeroplane or undergone an MRI scan can attest.

In response to "Europe’s unpleasant choice between Trump and Xi" , reallyanavatar says:

The US might return to its prewar isolationism with added muscular trade policy, but it isn't about to become a one-party dictatorship with wholesale corruption, no free press or democracy and no functioning rule of law. On any meaningful measure, the US remains fundamentally aligned with European values.

Have you gone completely mad?: letter from Christopher Joubert, Cambridge, UK

In your editorial of you set out a cogent and devastatingly conclusive argument against Brexit; yet you give the proposed deal your “conditional support”. Have you gone completely mad? I thought there was one sane newspaper left in the UK.

Today’s opinion

The FT View: Museums should rise to Macron’s art challenge
Question raised by French president of where ex-colonies’ art belongs needs a new answer

Lex: US Christmas trees: the fir trade
The longevity of fakes makes it hard to erode their dominance over real ones

Lex: SoftBank mobile: cell side
Expect some buying by passive funds once re-weightings are announced

More cash to combat crime only works when it is well spent
Calls for extra police funding are deafening but evidence shows how complex the problem is

Lex: Manolete/litigation finance: caped crusaders
Newcomer should be careful not to repeat other’s mis-steps 

FT Magazine: Handling the return of the mildly prodigal student
‘Coming home needs to feel like no big deal to him, even while seeing him after a long interval is a great deal to us’

The FT View: Donald Trump’s battle with the Fed is far from finished
Jay Powell’s underlying stance on interest rates has not changed

Here’s some free financial advice: beware of fees
Our reader survey reveals growing disquiet about how much adviser charge

FTfm: Big is rarely beautiful when it comes to M&A

FTfm: Nvidia share price reflects ups and downs of artificial intelligence

Lex: Ikea: me, my shelf and I
Strong balance sheet will come in handy as the furniture retailer retools

beyondbrics: Russian analysts: Nord Stream 2 is no commercial project
As debate rages over the controversial pipeline, critics in Russia see it for what it is

beyondbrics: Mexico’s López Obrador is subverting democracy
New president is using rigged polls to undermine the country’s institutions

Markets Insight: Powell’s dovish tone points to one eye on the next recession
Fed chairman could be trying to engineer a future in which QE will not be needed again

Eyes down and history books open for a game of Brexit bingo
Pundits and politicians unearth bewildering analogies from Britain’s past

Why modern chess needs an injection of old-fashioned thrills
During the 19th century, playing styles were daring, dashing and downright reckless

Why my generation is the last of the hedonists
For millennials, sex, drugs and alcohol are increasingly unpopular. Are they finding their dopamine hits online instead?

Inside London: Oil forecasts will continue to be wildly off the mark
Further price surprises loom while fossil fuel groups are set to endure for decades

Russia celebrates the assertion of might over right in Ukraine
Moscow clearly does not propose to respect its 2003 maritime agreement with Kiev

Free Lunch: The economic problem tearing countries apart
Regional divergence has afflicted all western countries since the 1980s

The Commodities Note: Oil flows again from Iraq’s Kirkuk thanks to US intervention 
Washington is keen to curtail Iranian influence in Iraq and reduce oil prices

The Top Line: Deutsche Bank — 20 years after the deal that sealed its fate
Bankers Trust acquisition in 1998 was when the German lender went all-in at the casino

Do you live in ‘Northern Ireland’ or ‘the north of Ireland’?
How language can fail when it crosses borders

FT Wealth: The rich column: Modern means to finance an old country estate
Dartington Hall is looking to be refurbished in part by funds from impact bonds

Undercover Economist: Cash-rich, time-poor: why the wealthy are always in a hurry
Research shows high earners think there are not enough hours in the day

FT Alphaville: Puff the tragic cryptowagon smokes out the Mumsnet demographic

City Insider: BT chairman leads cheerleading for May’s Brexit deal
Jan du Plessis promises to urge fellow business leaders to ‘get behind the PM’

The Long View: Be wary of ‘gradual, then sudden’ fissures in credit
The excesses of corporate borrowing will come home to roost for unsuspecting investors

Tail Risk: Dividend-hungry UK investors may need to run for cover
Signs that anyone looking for yield should be more concerned about outlook for payouts

FT View

The FT View: Museums should rise to Macron’s art challenge
Question raised by French president of where ex-colonies’ art belongs needs a new answer

The FT View: Donald Trump’s battle with the Fed is far from finished
Jay Powell’s underlying stance on interest rates has not changed

The Big Read

The Big Read: Mastering evolution: the world’s first gene-edited babies
Scientists have the tools to permanently alter human DNA, but some fear genetic meddling could have unintended consequences

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