Well, there is really no way to verify this. As far as I know, they have never been shown to have published incorrect information without a correction later. Many people seem to feel Newsweek and Time are biased. Personally, I used to subscribe to Newsweek and never noticed anything non-credible in their reporting. However, I tend to get most of my international news from international sources, as the United States media in general tends to edit a lot of the internation news. Of course, that is just my opinion.
As xmanmonk said, there is not really a way to verify if Newsweek is a credible source or not. But, I think of the many publications out there Newsweek is probably one you can trust to give you some accurate information. All publications aim to attract a specific audience and this dictates what they produce and how they write, so what is published may not align with your beliefs, but it is probably credible. Just keep in mind that only a small portion of the information obtained is actually produced for a public audience.
Newsweek did suffer from a journalistic error in producing a false story about the U.S. Military disrespecting the Quran in front of Muslim detainees. The story was linked to some violence and fatalities in Afghanistan. But even then it was believed the publication would recover from the fopaux of publishing the false story (http://www.marketwatch.com/story/newsweek-starts-efforts-to-rebuild-credibility).
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