Yesterday’s arrest of a notorious gang leader is a win for Daniel Noboa. He assures our journalists he can beat back rampant transnational gangs without trampling democracy. The torrent of big geopolitical news has, perhaps surprisingly, not much moved the markets; we ask why. And the next instalment of our “Archive 1945” project revisits the founding of the United Nations.

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We examine the path of Ayatollah Ali Khamenei, once a bookish cleric underrated by everyone—including himself. He has hung on to power perhaps in part by not making decisions at crucial points. Our finance correspondent looks at the shifting wisdom on how best to manage an inheritance. And why India’s addresses are so long, complex and ultimately costly.

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Western brands used to define cool and luxurious in China. No longer. Now consumers are turning to homegrown brands, some of which are becoming global tastemakers. Across Africa the Christian conservative movement is gaining ground fast—with a little help from American brethren. And why Britain is such a locus for the nuts and bolts of Formula 1.

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