What helps, too, is taking a long view of the history that comes with running a business founded in 1589, the events that it has witnessed and withstood over time.

“Nazis, Communists, government takeovers — in the past, we’ve had just about everything here,” Mr. Fritsche said. “And we have survived it all. We will get through this as well.”

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Ukraine Live Updates: War’s Economic Toll Tests Western Unity

LONDON — The West united against Russia’s war on Ukraine more swiftly and solidly than almost anyone had expected. But as the war settles into a prolonged conflict, one that could rumble on for months or even years, it is testing the resolve of Western countries, with European and American officials questioning whether the rising economic toll will erode their solidarity over time.

So far, the fissures are mostly superficial: Hungary’s refusal to sign on to an embargo of Russian oil, thwarting the European Union’s effort to impose a continentwide ban; restiveness in Paris with the Biden administration’s aggressive goal of militarily weakening the Russian president, Vladimir V. Putin; a beleaguered President Biden blaming sky-high food and gas prices on a Putin price hike.

Alongside those tensions, there are further signs of solidarity: Finland and Sweden on Wednesday edged closer to joining NATO, with Britain offering both countries security assurances to gird against the Russian threat. In Washington, the House voted 368 to 57 on Tuesday in favor of a nearly $40 billion aid package for Ukraine.

Yet Russia’s tanks rolled across the Ukrainian frontier just 76 days ago, the blink of an eye in the scheme of history’s forever wars. As the fighting grinds on, the cascading effect on supply chains, energy pipelines and agricultural harvests will be felt more acutely at gas pumps and on supermarket shelves.

Mr. Putin, some experts say, is calculating that the West will tire before Russia does of a long twilight struggle for Ukraine’s contested Donbas region, especially if the price for the West’s continued support is turbocharged inflation rates, energy disruptions, depleted public finances and fatigued populations.

Credit…Finbarr O’Reilly for The New York Times

The Biden administration’s director of national intelligence, Avril D. Haines, crystallized those doubts on Tuesday, warning senators that Mr. Putin was digging in for a long siege and “probably counting on U.S. and E.U. resolve to weaken as food shortages, inflation and energy shortages get worse.”

On Wednesday, Mr. Biden traveled to a farm in Kankakee, Ill., to make the case that Mr. Putin’s war was to blame for food shortages and the cost-of-living squeeze on American families, a tacit sign that his steadfast support for Ukraine — a policy that has won bipartisan support in Washington — could carry a political cost.

Mr. Putin faces his own domestic pressures, which were evident in the calibrated tone he struck during a speech in Moscow’s Red Square on Monday, neither calling for a mass mobilization nor threatening to escalate the conflict. But he also made clear that there was no end in sight for what he falsely called Russia’s campaign to rid its neighbor of “torturers, death squads and Nazis.”

On the ground in Ukraine, the fighting shows signs of becoming a protracted battle. A day after Ukraine’s counteroffensive unseated Russian forces from a cluster of towns northeast of the city of Kharkiv, the region’s governor said on Wednesday that the Ukrainian efforts had driven Moscow’s forces “even further” from the city, giving them “even less opportunity to fire on the regional center.”

Credit…Lynsey Addario for The New York Times

Ukraine’s apparent success at pushing back Russian troops outside Kharkiv — its second largest city, about 20 miles from the Russian border — appears to have contributed to reduced shelling there in recent days, even as Russia makes advances along parts of the front line in the Donbas region in eastern Ukraine.

That Ukraine would even find itself in an ongoing pitched battle, nearly three months after Russia launched a full-scale invasion, is remarkable. Analysts pointed out that a prolonged war would stretch the resources of a Russian military that has already suffered heavy losses of men and machinery. Given that, some argue that the West should press its advantage by tightening the economic chokehold on Moscow.

“I worry about Western fatigue,” said Michael A. McFaul, a former American ambassador to Russia, “which is why the leaders of the free world should do more now to hasten the end of the war.”

The United States and the European Union, he said, should impose a full range of crippling sanctions immediately, rather than rolling them out in escalating waves, as they have so far. Western countries had come close to such an all-in strategy with military aid, he said, which had helped the Ukrainians hold off the Russians.

Credit…Finbarr O’Reilly for The New York Times

But the halting negotiations on a European oil embargo show the limits of that approach when it comes to Russian energy supplies. European Union ambassadors held another fruitless meeting in Brussels on Wednesday, failing to break the fierce resistance of a single member of the bloc, Hungary.

Prime Minister Viktor Orban of Hungary, who has a warm relationship with Mr. Putin and has been at odds with Brussels, threw hopes for a show of unity into disarray when he blocked the latest measure, arguing that a ban on Russian oil would be the equivalent of an “atomic bomb” for the Hungarian economy.

Mr. Orban has continued to resist, even after concessions that would give Hungary more time to wean itself off Russian oil and intense lobbying by other leaders. Ursula von der Leyen, the president of the European Commission, flew to Budapest to try to sway him while President Emmanuel Macron telephoned him.

“We will only support this proposal if Brussels proposes a solution for the problem that Brussels created,” Hungary’s foreign minister, Peter Szijjarto, said, adding that modernizing Hungary’s energy sector would cost “many, many billions of euros.”

In Washington, Mr. Biden has encountered less trouble rounding up support for military and humanitarian aid to Ukraine. The House vote in favor of a massive aid package showed how the war’s brutality had overcome resistance from both the right and left to American involvement in military conflicts overseas.

And yet rising food and fuel prices, which are aggravated by the war, pose a genuine threat to Mr. Biden. The price of food rose 0.9 percent in April from the previous month, according to data released on Wednesday. Treasury Secretary Janet L. Yellen said the administration was “terribly concerned about global food supplies,” adding that 275 million people around the world face starvation.

Credit…Doug Mills/The New York Times

“Putin’s war has cut off critical sources of food,” Mr. Biden said to farmers in Illinois. “Our farmers are helping on both fronts, reducing the price of food at home and expanding production and feeding the world in need.”

It remains to be seen whether the United States can increase agricultural production enough to ease the shortages. But the visit to a farm came as Mr. Biden, under pressure over the fastest pace of inflation in 40 years, tried to reassure Americans that the White House is taking price increases seriously.

While Mr. Putin faces arguably much greater pressures — from swelling combat casualties to the economic pain caused by sanctions — he is exploiting nationalist feelings, which some analysts note will give him staying power.

The Kremlin signaled on Wednesday that it could annex the strategically important southern Ukrainian region of Kherson, as the occupying authorities said they would prepare a formal request to Mr. Putin to absorb their region into Russia.

“They are motived by powerful nationalism,” said Francis Fukuyama, a political scientist at Stanford University, “for which they are willing to undergo extraordinary economic damage.” Still, he added, the West’s muscular response could be “a moment of turnaround in the self-confidence of democracies.”

Credit…David Guttenfelder for The New York Times

For some Europeans, the United States might be going too far. French diplomats with ties to Mr. Macron described the evolving American policy as essentially arming Ukraine to the hilt and maintaining sanctions on Russia indefinitely. France, they said, wants to push hard for negotiations with Mr. Putin because there was no other path to lasting European security.

Other analysts argue that the threats to Western unity are overdone. The moves by Finland and Sweden to join NATO suggest not only that the alliance is pulling together but also that its center of gravity is shifting eastward.

Even before he invaded Ukraine, Mr. Putin warned those countries that they would face “retaliation” if they joined NATO. On a visit to Stockholm, Prime Minister Boris Johnson suggested that the mutual security declaration Britain signed with Sweden — under which both countries pledged come to each other’s aid if they face a military threat or natural disaster — would counter that threat.

“Sovereign nations must be free to make those decisions without fear or influence or threat of retaliation,” Mr. Johnson said, alongside Prime Minister Magdalena Andersson of Sweden. The declaration “will allow us to share more intelligence, bolster our military exercises and further our joint development of technology,” he said.

Credit…Pool photo by Frank Augstein

Despite Germany’s ambivalence about cutting off Russian gas, it seems highly unlikely to reverse course from its landmark commitment to increase military spending. On Wednesday, Germany started training the first class of Ukrainian gun crews on the use of self-propelled howitzers in western Germany. The German military plans to donate seven of the heavy weapons to Ukraine.

“The Russians, because of their barbarity, keep on generating images and news that will help the cause of Western unity,” said Eliot A. Cohen, a political scientist who served in the State Department during the George W. Bush administration. “If the Ukrainians continue to succeed, I think people will cheer them on.”

Reporting was contributed by Matina Stevis-Gridneff from Brussels, Roger Cohen from Paris, Matthew Mpoke Bigg and Cora Engelbrecht from London, Ana Swanson and Alan Rappeport from Washington, Ivan Nechepurenko from Tbilisi, Georgia, and Christopher F. Schuetze from Berlin.

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Pope evokes spectre of Ukraine war sparking global conflict, article with image

Pope Francis leads the Angelus prayer from the window of the Apostolic Palace at the Vatican, March 27, 2022. Simone Risoluti/Vatican Media/­Handout via REUTERS

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VATICAN CITY, March 27 (Reuters) – The threat of a global conflict spawned by Russia’s invasion of Ukraine should convince everyone that the time has come for humanity to abolish war before it abolishes humanity, Pope Francis said on Sunday.

“More than a month has passed since the invasion of Ukraine, since the start of this cruel and senseless war, which, like every war, is a defeat for everyone, for all of us,” he said to thousands of people in St. Peter’s Square for his Sunday blessing.

“We must repudiate war, a place of death where fathers and mothers bury their children, where men kill their brothers without even seeing them, where the powerful decide and the poor die,” he said.

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The war in Ukraine was destroying the country’s future, he said, citing a statistic that half of the country’s children had to flee the country.

“That is the bestiality of war, something that is barbarous and sacrilegious,” he said, urging his listeners not to consider war as inevitable or something to get used to.

“If we emerge from this (war) the same as we were before, we will all be in some way guilty. Faced with the danger of self-destruction, humanity must understand that the time has come to abolish war, to cancel it from the history of man before it cancels man from history,” he said.

Since Russia invaded its neighbour on Feb. 24, Francis has several times spoken of a possible nuclear conflict.

“I beg every politician involved to reflect on this, to make a commitment, and, looking at martyred Ukraine, to understand that every day of war worsens the situation for everyone,” he said.

“Enough! Stop! Let the weapons fall silent. Negotiate seriously for peace,” he said.

Since the invasion, which Russia calls a “special military operation” to demilitarise Ukraine, the pope has implicitly criticised Moscow, strongly condemning what he has called an “unjustified aggression” and denouncing “atrocities.”

But he has used the word “Russia” only in prayers, such as during a special global event for peace last Friday read more

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Reporting by Philip Pullella;Editing by Elaine Hardcastle

Our Standards: The Thomson Reuters Trust Principles.

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Divorcing Couples Fight Over the Kids, the House and Now the Crypto

“Francis has been less than forthright with his ever-changing stories,” Ms. deSouza’s lawyers claimed in one filing.

No secret stash ever materialized. A spokeswoman for Mr. deSouza said he had disclosed the entirety of his cryptocurrency holdings at the beginning of the divorce. “As soon as Francis knew that the Bitcoin was caught up in the Mt. Gox bankruptcy, he told his ex-wife,” the spokeswoman said. “Had the Mt. Gox bankruptcy not occurred, the division of the BTC would have been entirely uncontroversial.”

Ms. deSouza declined to comment through her lawyer.

But the appeals court found that Mr. deSouza, 51, who is now the chief executive of the biotech company Illumina, had violated rules of the divorce process by failing to keep his wife fully apprised of his cryptocurrency investments.

He was ordered to give Ms. deSouza about half the total number of Bitcoins he had owned before the Mt. Gox bankruptcy, leaving him with 57 Bitcoins, worth roughly $2.5 million at today’s prices. Ms. deSouza’s Bitcoins are now worth more than $23 million.

Not all crypto divorces involve such large sums. A few years ago, Nick Himonidis, a forensic investigator in New York, worked on a divorce case in which a woman accused her husband of underreporting his cryptocurrency holdings. With the court’s authorization, Mr. Himonidis showed up at the husband’s house and searched his laptop. He found a digital wallet, which contained roughly $700,000 of the cryptocurrency Monero.

“He was like: ‘Oh, that wallet? I didn’t think I even had that,’” Mr. Himonidis recalled. “I was like, ‘Seriously, dude?’”

In another case, Mr. Himonidis said, he discovered that a husband had moved $2 million in cryptocurrency out of his account on the Coinbase exchange, a platform where people buy, sell and store digital currencies. A week after his wife filed for divorce, the man transferred the funds to digital wallets, and then left the United States.

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Pope says Italy’s plunging birthrate is a ‘tragedy’

VATICAN CITY, Dec 26 (Reuters) – Pope Francis bemoaned Italy’s plunging birthrate on Sunday, warning that the decline represented a threat to the future of the country.

Births in Italy last year hit their lowest level since the unification of the nation in 1861, the national statistics office said this month, with the figure falling for a 12th consecutive year. read more

“The demographic winter is a real worry, at least here in Italy,” the pope said in his weekly address in front of St. Peter’s Basilica.

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Children stand outside a school as the town is downgraded from a red to an orange zone, after weeks of tight restrictions to fight the coronavirus disease (COVID-19) outbreak, in Naples, Italy, April 19, 2021. REUTERS/Ciro de Luca

“It seems that a lot of people have lost the wish to have children. Lots of couples prefer to remain childless or to have one child only. … It’s a tragedy … which runs counter to our families, our country and our future.”

There were 404,892 births in Italy last year, the ISTAT statistics office said, down 15,192 from 2019. There were 746,146 deaths in 2020 as the population fell to 59.3 million.

ISTAT said the slump in births had continued this year, adding that the COVID-19 pandemic appeared to be a factor in the decline.

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Reporting by Crispian Balmer
Editing by David Goodman

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Biden Eases Fray with France and Savors Meeting with Pope as Europe Trip Begins

ROME — After a six-week diplomatic uproar over a scuttled submarine deal and accusations of American duplicity, President Biden made a one-on-one effort Friday to mend fences with President Emmanuel Macron of France by admitting that, yes, the matter could have been handled better.

“What we did was clumsy,” Mr. Biden told reporters hours after arriving in Italy to attend a summit with other world leaders. “It was not done with a lot of grace.”

By delivering an in-person mea culpa to the leader of one of America’s oldest allies, Mr. Biden signaled that he was ready to move on from an embarrassing spat that grew from a secretive American agreement with Britain and Australia to supply Australia with nuclear-powered attack subs, effectively canceling out a lucrative and strategically important French contract.

“I was under the impression that France had been informed long before that the deal was not coming through,” Mr. Biden said, effectively inviting his negotiating partners to shoulder some of the blame after weeks of weathering French ire. Later in the day, the two issued a joint statement that confirmed Mr. Biden’s support for America’s European allies to develop a “stronger and more capable European defense” as a compliment to NATO.

global agreement to set minimum levels of corporate taxation, aimed at stopping companies from stuffing income into tax havens. He will also prod other countries to assist in uncorking supply chain bottlenecks, announce a global task force to fight the coronavirus and urge investments to curb global warming.

But his trip began with a private audience with Pope Francis at the Vatican, a diplomatic meeting that the president, who was grinning broadly as he emerged from his presidential limousine, seemed to enjoy.

After spending about 90 minutes with Francis in the Vatican’s Apostolic Palace, Mr. Biden told reporters that the pope had called him a “good Catholic” who should keep receiving holy communion.

The apparent show of support would mark the first time the pope has explicitly pushed back against a campaign by conservative bishops in the United States to deny Mr. Biden, a fellow Roman Catholic, the sacrament because of his support for abortion rights. Asked if the two had spoken about abortion, the president said no, but that the topic of receiving the sacrament had come up.

“We just talked about the fact he was happy that I was a good Catholic,” Mr. Biden told reporters, “and I should keep receiving communion.”

have become common targets of powerful conservative American bishops seeking to undercut them.

Massimo Faggioli, a theology professor at Villanova University and author of “Joe Biden and Catholicism in the United States,” said there was “no question” that American bishops would be angered by the pope’s encouragement, and wondered whether the president had cleared his decision to speak publicly about it with the Vatican.

The heavily edited footage released by the Vatican appeared to underscore the warm bond shared by the two leaders. Mr. Biden clasped the pope’s hand and called him “the most significant warrior for peace I’ve ever met.”

After their private talk they exchanged gifts, and Mr. Biden gave the pope a presidential challenge coin that featured Delaware, his home state, and Beau’s Army National Guard unit. “I know my son would want me to give this to you,” he said.

As Francis showed Mr. Biden and Jill Biden, the first lady, to the door, Mr. Biden was in no rush to leave.

He unspooled a folksy yarn that referred to both he and the pope ascending to their positions later in life. In a nod to their ages — he is 78 and Francis is 84 — he relayed a story about Satchel Paige, the legendary Black player who pitched the majority of his career in the Negro Leagues, and who was allowed to join the Major Leagues only in his 40s.

“Usually, pitchers lose their arms when they’re 35,” Mr. Biden said to the pope, who seemed a little lost by the baseball reference. “He pitched a win on his 47th birthday.”

As Mr. Biden explained it, reporters asked the pitcher: “‘Satch, no one’s ever pitched a win at age 47. How do you feel about pitching a win on your birthday?’” and the pitcher responded: “‘Boys, that’s not how I look at age. I look at it this way: How old would you be if you didn’t know how old you were?’”

The pope looked at Mr. Biden.

“You’re 65, I’m 60,” the president said. “God love ya.”

Jim Tankersley contributed reporting from Rome, and Ruth Graham from Dallas.

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Residential School Photos Show Canada’s Grim Legacy of Cultural Erasure

OTTAWA — At times it was the Royal Canadian Mounted Police who came for them. Other times, it was a school van. However it happened, for generations, Indigenous families in Canada had no choice but to send their children to church-run residential schools established by the government to erode their culture and languages, and to assimilate them.

A national Truth and Reconciliation Commission declared in 2015 that the schools, which operated from 1883 to 1996, were a form of “cultural genocide.”

But the profound damage inflicted by the schools didn’t stop there. The commission cataloged extensive physical, sexual and emotional abuse at the schools, which were often overcrowded, understaffed and underfunded. Disease, fire and malnourishment all brought death and suffering.

Now, the national shame of the schools is again dominating the conversation in Canada.

Since May, new technology has enabled the discovery of human remains, mostly of children, in many hundreds of unmarked graves on the grounds of three former schools in Canada — two in British Columbia and one in Saskatchewan. Who they were, how they died or even when they died may never be fully known.

were forced to attend residential schools in a forced assimilation program. Most of these schools were operated by churches, and all of them banned the use of Indigenous languages and Indigenous cultural practices, often through violence. Disease, as well as sexual, physical and emotional abuse were widespread. An estimated 150,000 children passed through the schools between their opening and their closing in 1996.

  • The Missing Children: A National Truth and Reconciliation Commission, set up as part of a government apology and settlement over the schools, concluded that at least 4,100 students died while attending them, many from mistreatment or neglect, others from disease or accident. In many cases, families never learned the fate of their offspring, who are now known as “the missing children.”
  • The Discoveries: In May, members of the Tk’emlups te Secwepemc First Nation found 215 bodies at the Kamloops school — which was operated by the Roman Catholic Church until 1969 — after bringing in ground-penetrating radar. In June, an Indigenous group said the remains of as many as 751 people, mainly children, had been found in unmarked graves on the site of a former boarding school in Saskatchewan.
  • Cultural Genocide’: In a 2015 report, the commission concluded that the system was a form of “cultural genocide.” Murray Sinclair, a former judge and senator who headed the commission, recently said he now believed the number of disappeared children was “well beyond 10,000.”
  • Apologies and Next Steps: The commission called for an apology from the pope for the Roman Catholic church’s role. Pope Francis stopped short of one, but the archbishop of Vancouver apologized on behalf of his archdiocese. Canada has formally apologized and offered financial and other search support, but Indigenous leaders believe the government still has a long way to go.
  • “Something good has to come out of this,” Joey Desjarlais, 73, said outside the ruins of the Muskowekwan Indian Residential School in Saskatchewan, which he was forced to attend, as were his parents, grandparents and great-grandparents. “Our children need to learn about the residential school, what we went through and what went on in there but also to learn their culture, so at least they’ll get it back.”

    The image below shows girls working in the kitchen at the Bishop Horden Memorial School in Moose Factory, Ontario, around 1940.

    Boys at the Shingwauk Indian Residential School playing with handmade bows, and a game of table hockey, in the 1960s.

    Boys say their prayers in the dormitory at the Bishop Horden Memorial School in Moose Factory, Ontario, in 1950.

    Girls at a residential school in Fort Resolution, Northwest Territories, around 1936. It is estimated that roughly one-third of all Indigenous children were enrolled in the schools by the 1930s.

    Boys and girls, in their first communion outfits, posing at Spanish Indian Residential School in Spanish, Ontario, in the 1960s.

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    Hundreds More Unmarked Graves Found at Former Residential School in Canada

    CALGARY, Alberta — For decades, the Indigenous children were taken from their families, sometimes by force, and housed in crowded, church-run boarding schools, where they were abused and prohibited from speaking their languages. Thousands vanished altogether.

    Now, a new discovery offers chilling evidence that many of the missing children may have died at these schools: The remains of as many as 751 people, mainly Indigenous children, were found at the site of a former school in the province of Saskatchewan, an Indigenous group said on Thursday.

    The burial site, the largest one to date, was uncovered only weeks after the remains of 215 children were found in unmarked graves on the grounds of another former church-run school for Indigenous students in British Columbia.

    The discoveries have jolted a nation grappling with generations of widespread and systematic abuse of Indigenous people, many of whom are survivors of the boarding schools. For decades, they suggested through their oral histories that thousands of children disappeared from the schools, but they were often met with skepticism. The revelations of two unmarked grave sites are another searing reminder of this traumatic period in history.

    Chief Cadmus Delorme, of the Cowessess First Nation.

    The recent unearthing of remains in Canada have reverberated globally, including in the United States, where this week the interior secretary said the country would search federal boarding schools for possible burial sites of Native American children. Hundreds of thousands of them were forcibly taken from their communities to be culturally assimilated in the schools for more than a century.

    a system started in the 19th century that took Indigenous children from their families.

    A National Truth and Reconciliation Commission, established in 2008 to investigate the residential schools, called the practice “cultural genocide.” Many children never returned home, and their families were given only vague explanations of their fates, or none at all. Canada had about 150 residential schools and an estimated 150,000 Indigenous children passed through the schools between their opening, around 1883, and their closing in 1996.

    The commission estimated that about 4,100 children went missing nationwide from the schools. But an Indigenous former judge who led the commission, Murray Sinclair, said in an email this month that he now believed the number was “well beyond 10,000.”

    1.7 million Indigenous citizens, who make up about 4.9 percent of the population, the finding of yet another mass burial site is a visceral reminder of centuries of discrimination and abuse, which has led to intergenerational trauma among survivors of residential schools and their families.

    “There’s no denying this: All of the stories told by our survivors are true,” Chief Cameron said.

    Florence Sparvier, 80, an elder of the Cowessess First Nation, said she attended two residential schools, including Marieval, the school where the unmarked remains were found.

    were forced to attend residential schools in a forced assimilation program. Most of these schools were operated by churches, and all of them banned the use of Indigenous languages and Indigenous cultural practices, often through violence. Disease, as well as sexual, physical and emotional abuse were widespread. An estimated 150,000 children passed through the schools between their opening and their closing in 1996.

  • The Missing Children: A National Truth and Reconciliation Commission, set up as part of a government apology and settlement over the schools, concluded that at least 4,100 students died while attending them, many from mistreatment or neglect, others from disease or accident. In many cases, families never learned the fate of their offspring, who are now known as “the missing children.”
  • The Recent Discovery: In May, members of the Tk’emlups te Secwepemc First Nation found 215 bodies at the Kamloops school — which was operated by the Roman Catholic Church until 1969 — after bringing in ground-penetrating radar.
  • ‘Cultural Genocide’: In a 2015 report, the commission concluded that the system was a form of “cultural genocide.” Murray Sinclair, a former judge and senator who headed the commission, recently said he now believed the number of disappeared children was “well beyond 10,000.”
  • Apologies and Next Steps: The commission called for an apology from the pope for the Roman Catholic church’s role. Pope Francis stopped short of one, but the archbishop of Vancouver apologized on behalf of his archdiocese. Canada has formally apologized and offered financial and other search support, but Indigenous leaders believe the government still has a long way to go.
  • In September 2017, Mr. Trudeau acknowledged the nation’s past “humiliation, neglect and abuse” of Indigenous people, and vowed in a speech at the United Nations General Assembly to improve their lives.

    Pope Francis has still not taken that step. By contrast, the leadership of the United Church of Canada, the country’s largest Protestant denomination, apologized in 1998 for its role in running the schools.

    Since the Kamloops announcement, Chief Cameron said, he has been traveling around the province, where farming and mining are major industries, looking at former school sites.

    “You can see with your plain eye the indent of the ground where these bodies are to be found,” he said in an interview Wednesday night. “These children are sitting there, waiting to be found.”

    Vjosa Isai in Toronto contributed reporting.

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    How the Coming Population Bust Will Transform the World

    All over the world, countries are confronting population stagnation and a fertility bust, a dizzying reversal unmatched in recorded history that will make first-birthday parties a rarer sight than funerals, and empty homes a common eyesore.

    Maternity wards are already shutting down in Italy. Ghost cities are appearing in northeastern China. Universities in South Korea can’t find enough students, and in Germany, hundreds of thousands of properties have been razed, with the land turned into parks.

    Like an avalanche, the demographic forces — pushing toward more deaths than births — seem to be expanding and accelerating. Though some countries continue to see their populations grow, especially in Africa, fertility rates are falling nearly everywhere else. Demographers now predict that by the latter half of the century or possibly earlier, the global population will enter a sustained decline for the first time.

    A planet with fewer people could ease pressure on resources, slow the destructive impact of climate change and reduce household burdens for women. But the census announcements this month from China and the United States, which showed the slowest rates of population growth in decades for both countries, also point to hard-to-fathom adjustments.

    spirals exponentially. With fewer births, fewer girls grow up to have children, and if they have smaller families than their parents did — which is happening in dozens of countries — the drop starts to look like a rock thrown off a cliff.

    “It becomes a cyclical mechanism,” said Stuart Gietel Basten, an expert on Asian demographics and a professor of social science and public policy at the Hong Kong University of Science and Technology. “It’s demographic momentum.”

    Some countries, like the United States, Australia and Canada, where birthrates hover between 1.5 and 2, have blunted the impact with immigrants. But in Eastern Europe, migration out of the region has compounded depopulation, and in large parts of Asia, the “demographic time bomb” that first became a subject of debate a few decades ago has finally gone off.

    South Korea’s fertility rate dropped to a record low of 0.92 in 2019 — less than one child per woman, the lowest rate in the developed world. Every month for the past 59 months, the total number of babies born in the country has dropped to a record depth.

    schools shut and abandoned, their playgrounds overgrown with weeds, because there are not enough children.

    even iPhones.

    To goose the birthrate, the government has handed out baby bonuses. It increased child allowances and medical subsidies for fertility treatments and pregnancy. Health officials have showered newborns with gifts of beef, baby clothes and toys. The government is also building kindergartens and day care centers by the hundreds. In Seoul, every bus and subway car has pink seats reserved for pregnant women.

    But this month, Deputy Prime Minister Hong Nam-ki admitted that the government — which has spent more than $178 billion over the past 15 years encouraging women to have more babies — was not making enough progress. In many families, the shift feels cultural and permanent.

    projections by an international team of scientists published last year in The Lancet, 183 countries and territories — out of 195 — will have fertility rates below replacement level by 2100.

    municipalities have been consolidated as towns age and shrink. In Sweden, some cities have shifted resources from schools to elder care. And almost everywhere, older people are being asked to keep working. Germany, which previously raised its retirement age to 67, is now considering a bump to 69.

    Going further than many other nations, Germany has also worked through a program of urban contraction: Demolitions have removed around 330,000 units from the housing stock since 2002.

    recently increased to 1.54, up from 1.3 in 2006. Leipzig, which once was shrinking, is now growing again after reducing its housing stock and making itself more attractive with its smaller scale.

    “Growth is a challenge, as is decline,” said Mr. Swiaczny, who is now a senior research fellow at the Federal Institute for Population Research in Germany.

    Demographers warn against seeing population decline as simply a cause for alarm. Many women are having fewer children because that’s what they want. Smaller populations could lead to higher wages, more equal societies, lower carbon emissions and a higher quality of life for the smaller numbers of children who are born.

    But, said Professor Gietel Basten, quoting Casanova: “There is no such thing as destiny. We ourselves shape our lives.”

    The challenges ahead are still a cul-de-sac — no country with a serious slowdown in population growth has managed to increase its fertility rate much beyond the minor uptick that Germany accomplished. There is little sign of wage growth in shrinking countries, and there is no guarantee that a smaller population means less stress on the environment.

    Many demographers argue that the current moment may look to future historians like a period of transition or gestation, when humans either did or did not figure out how to make the world more hospitable — enough for people to build the families that they want.

    Surveys in many countries show that young people would like to be having more children, but face too many obstacles.

    Anna Parolini tells a common story. She left her small hometown in northern Italy to find better job opportunities. Now 37, she lives with her boyfriend in Milan and has put her desire to have children on hold.

    She is afraid her salary of less than 2,000 euros a month would not be enough for a family, and her parents still live where she grew up.

    “I don’t have anyone here who could help me,” she said. “Thinking of having a child now would make me gasp.”

    Elsie Chen, Christopher Schuetze and Benjamin Novak contributed reporting.

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    The Mogul in Search of a Kinder, Gentler Capitalism

    A self-made multimillionaire who married into a revered European banking dynasty, Lynn Forester de Rothschild now spends her time calling for higher taxes on the wealthy, stricter regulation of big business and a wholesale reordering of the capitalist system that has delivered her such privilege.

    It is an unlikely reformation for a woman who came from modest origins, made a fortune in the 1980s and could have spent her later years enjoying a sumptuous life of aristocracy.

    Born to a middle-class family in the New Jersey suburbs, Ms. Rothschild began her career at the white shoe law firm Simpson, Thacher and Bartlett, then started working with John Kluge, a telecommunications mogul, in the 1980s. Ms. Rothschild eventually struck out on her own, working for, running and founding a series of successful media companies.

    In 2000, she married Sir Evelyn de Rothschild, a British financier. (Henry Kissinger introduced them at the Bilderberg conference; the Clintons invited them to honeymoon at the White House.)

    Despite her pedigree, Ms. Rothschild has in recent years come to understand that while she and her associates have enjoyed the fruits of capitalism, not all have fared so well. Many workers are struggling to get by. The environment is in serious trouble. Government often cleans up the private sector’s messes.

    Sociable and well-connected, Ms. Rothschild has tapped her expansive network to launch a multipronged assault on the status quo. In 2014, she founded the Coalition for Inclusive Capitalism, an effort to get business leaders more engaged in environmental and social issues. And she has parlayed that into a related group, the Council for Inclusive Capitalism, that is working with Pope Francis, and a new fund focused on socially responsible investing she founded with Jeff Ubben, a successful hedge fund manager.

    This interview was condensed and edited for clarity.


    Back when you were starting out in your career, were you concerned about some of the negative impacts of capitalism in the same way you are today?

    It was really different. I don’t think we realized how bad it was. Graduating from law school in 1980, I believed I was living the American dream. I was a skinny girl from nowhere who knew no one, who had aspirations for an interesting life that would make a difference. And I believed that was available to me if I worked hard and played by the rules. The mantra at that time, that was not said disparagingly, was “Greed is good.” There was an Ayn Rand view that if you pursue your interests, all of society is lifted. So I really did believe that all I needed to do was to pursue my career in a legal, ethical, exciting way, and I didn’t have to worry about society.

    When did it click for you that something wasn’t working?

    We didn’t anticipate the kind of disparity that developed over those 20 years when we started in 1980. And I don’t think people practicing shareholder primacy were evil. There was just too much greed. But by 2008 it was impossible to ignore. The concentration of wealth in America at that time already was back to levels we had during the Gilded Age. In the 1960s the ratio of C.E.O. pay to average worker pay was 25 to one. Today it is 320 to one.

    That has very conveniently created enormous personal wealth, which became the objective, as opposed to: What wealth have you left behind in society? How have you made the world better for your children, for your community? “Greed is good” was never a concept for Adam Smith.

    What do you see as the most problematic symptoms of our economic system today?

    Inequality of opportunity. We have to be honest that in each of our two recent crises — the great financial crisis and the Covid crisis — the government came to the aid of the wealthiest. Some have called it “socialism for the rich and capitalism for everyone else.” There’s something to that.

    The elites turn to government when the financial system is blown up or we have a health crisis. Government got us out of both of those problems, and it got us out with too much of the benefit going to the richest. So how do we equalize that?

    I personally am fine with higher taxes, if higher taxes lead to better distribution of opportunity, particularly for people of color and people in the lower part of the socioeconomic environment. I also believe that it is time that we listen more to our employees. It’s time that we create a more level playing field with respect to worker voice and worker involvement. This is hard stuff, because it can impact profit.

    A year ago you said Covid was going to change capitalism forever. In what way did you think it was going to change capitalism, and how do you think that all has actually played out?

    I’m probably always guilty of being overly optimistic. I believed that our moral compass would tell us that we need to take better care of the people who take care of us. But we saw starkly how we treated the people we called essential, how we were exposing them to this deadly disease. I personally find it difficult to understand why that is so hard for us as a society, and that’s why I founded the Council for Inclusive Capitalism.

    I had the disease. I was really sick. I thought I was going to die. I had a really bad case and I’m scared to death of it.

    What were the origins of the Council for Inclusive Capitalism?

    In June of 2015, Laudato Si was written by Pope Francis. By September, the Sustainable Development Goals were agreed to by the United Nations. By December, the Paris climate accord had been signed. You had every reason to believe that there was a sense of the common good.

    And if you go back and read Laudato Si, Pope Francis writes: “The lessons of the global financial crisis have not been assimilated, and we are learning all too slowly the lessons of environmental deterioration.” He goes on to say that “by itself the market cannot guarantee integral human development and social inclusion.”

    What are some of the reforms you’d like to see? The Business Roundtable can put out as many press releases as it wants about stakeholder capitalism, but we still have companies losing billions of dollars, laying off tens of thousands of workers and still rewarding their C.E.O.s with tens of millions of dollars.

    Something is really broken. I do believe that C.E.O.s and boards are willing to share the wealth and do more. But the Chamber of Commerce and the Business Roundtable are going to go for tax policy and trade policy as their primary objective.

    I remember a person who was very senior in a previous administration told me that in his four years in office, only one C.E.O. asked to go and see him about an issue of the common good. Everyone was coming in to push what they needed for their own book. We need to profitably solve the problems of people and planet. That’s why business exists.

    Who’s to say that there shouldn’t be a government policy that prices the negative externalities that companies cost the taxpayer when full-time workers have to be on public assistance to lead a decent life? Why can’t there be a tax and a penalty on that? Why is Jeff Bezos the richest man in the world? He’s a nice guy, and at the same time he has tens of thousands of employees on public assistance. Why is that OK? Why do we have a government that lets that happen?

    Which do you think is more broken, American politics or capitalism?

    I think their problems feed upon each other. They’re creating a death spiral together and it’s got to be stopped. Politics and capitalism needs to return to a basic sense of decency.

    And that is actually why I reached out to the Holy Father, because I think that a lot of what it will take to change behavior is a moral and ethical reawakening. It’s not just one policy, it’s not just taxes, it’s not just reforming labor laws — all of which are important, and we need competent ethical people to do it. But at the core of it, it has to come from common decency.

    God did not invent the corporation. Society allows a corporation to exist, gives shareholders limited liability, and expects something in return. But we don’t just expect cheap widgets.

    How do you reconcile your critique of shareholder capitalism with the fact that you’re now working with a hedge fund manager?

    If there is going to be a system change, the capital markets need to reward shareholders. That is only going to happen if there are really talented investors who find the new levers of value creation, and are engaging actively with companies that are transforming at scale to become cleaner and more inclusive, and those companies become the ones that are the most valuable. Then we’ve created a race to the top.

    That’s why I’m in partnership with Jeff, who’s such a legend in shareholder value creation and transforming companies. I have 1,000 percent confidence in the integrity of Jeff, even though he’s been on the opposite side for many years. I trust many billionaires.

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