Capital New York: Newsweek has raided Time’s talent pool, hiring Time’s Europe editor, Matt McAllester, to perform the same role at Newsweek. He begins Aug. 17. McAllester’s appointment follows a decision two weeks ago by Newsweek’s parent company, IBT Media, to scrap its standalone European editorial team and bring Newsweek’s EMEA edition, focusing on Europe, the Middle East and Africa, under the auspices of Newsweek’s New York-based U.S. newsroom, which is led by editor in chief Jim Impoco.