“This is empty right now,” Mr. Pomeroy said, smoothly steering his white 2014 Ford Explorer (what he calls his “mobile command center”) past a swath of freshly paved asphalt. “But in the summer, and during the event in particular, there’s airplanes parked everywhere up here.”

Much like the activities of the conference, elements of the travel there are shrouded in secrecy. Many jets flying in are registered to obscure owners and limited liability companies, some with only winking references to their passengers. The jet that carried Mr. Kraft last year, for example, is registered under “Airkraft One Trust,” according to records from the Federal Aviation Administration. The plane that Mr. Bezos flew in on is registered to Poplar Glen, a Seattle firm.

Representatives for Mr. Kraft and Mr. Bezos declined to comment. Mr. Bezos is not expected to turn up at Sun Valley this year, according to an advance list of guests that was obtained by The New York Times.

Mr. Pomeroy plans well in advance to deal with the intense air traffic generated by the conference, which he refers to obliquely as “the annual fly-in event.” Without proper organization, flocks of private jets could stack up in the airspace around Friedman, creating delays and diversions while pilots burn precious fuel.

That was the case for the 2016 conference, which coincided with Mr. Pomeroy’s first week on the job. That year, some aircraft circled overhead or sat on the tarmac for more than an hour and a half, waiting for the airspace and runway to clear.

“I saw airplanes literally lined up to take off from the north end of the field almost all the way down to the south end of the field,” Mr. Pomeroy said, referring to the 7,550-foot runway. “Tail to nose, all the way up the taxiway.”

After that episode, Mr. Pomeroy enlisted Greg Dyer, a former district manager at the F.A.A., to help unclutter the tarmac. The two coordinated with an F.A.A. hub in Salt Lake City to line up flights, sometimes 300 to 500 miles outside Sun Valley. For some flights, the staging begins before the planes take off.

“Before, it looked like an attack — it was just airplanes coming from all points of the compass, all trying to get here at the same time,” said Mr. Dyer, an airport consultant for Jviation-Woolpert.

Last year, delays were kept to a maximum of 20 minutes, and no commercial travelers missed connecting flights because of air traffic caused by the conference, Mr. Pomeroy said.

When moguls are forced to circle in the air, they often loiter in great style. Buyers willing to shell out tens of millions for a high-end private plane are unlikely to balk at an additional $650,000 to outfit the aircraft with Wi-Fi, said Lee Mindel, one of the founders of SheltonMindel, an architectural firm that has designed the interiors of Gulfstream and Bombardier private jets. Some owners, he said, have opted for bespoke flatware from Muriel Grateau in Paris, V’Soske rugs or other luxe features.

“If you have to ask what it costs, you really can’t afford to do it,” Mr. Mindel said.

During the pandemic, when commercial travel slowed because of restrictions, corporate jaunts increased among a subset of executives who didn’t want to be held back, said David Yermack, a professor at New York University’s Stern School of Business. He added that it might be cheaper in the long run to compensate chief executives with jet travel than pay them with cash.

“I think it was Napoleon who said, ‘When I realized people would lay down their lives for little pieces of colored ribbon, I knew I could conquer the world,’” Mr. Yermack said.

The glut of flights certainly raises practical concerns. The residents of Hailey, as well as nearby Ketchum and Sun Valley, have complained in the past about the noise created by the jets zooming into Friedman Memorial Airport.

To deal with the complaints, Mr. Pomeroy and the Friedman Memorial Airport Authority curtailed flights between 11 p.m. and 7 a.m. and limited the number of takeoffs and landings from the north, over the little city of Hailey.

Before the conference, Mr. Pomeroy sends a letter to incoming pilots about what to expect, admonishing them to keep the noise to a minimum.

“While the overwhelming majority of users during this event are respectful of our program and community, only a few operators who blatantly disregard our program, or who are negligent in educating themselves about our program, leave a negative impression on all of us,” Mr. Pomeroy wrote this year.

Allen & Company’s stinginess about some conference details extends to the airport. But Mr. Pomeroy and his team get enough information to conclude when the moguls will arrive and are about to leave town.

When the schmoozing is over next week, Mr. Pomeroy will begin the arduous task of ushering the corporate titans out of Idaho. Often that means closing the airport briefly to arrivals while they hustle out departures for an hour.

As the last jets get ready to leave, Mr. Pomeroy said, he and his team breathe a sigh of relief.

“Afterward, I am ready to hit the river for some serious fly-fishing for a day or two,” he said.

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‘We Buried Him and Kept Walking’: Children Die as Somalis Flee Hunger

DOOLOW, Somalia — When her crops failed and her parched goats died, Hirsiyo Mohamed left her home in southwestern Somalia, carrying and coaxing three of her eight children on the long walk across a bare and dusty landscape in temperatures as high as 100 degrees.

Along the way, her 3-and-a-half-year-old son, Adan, tugged at her robe, begging for food and water. But there was none to give, she said. “We buried him, and kept walking.”

They reached an aid camp in the town of Doolow after four days, but her malnourished 8-year-old daughter, Habiba, soon contracted whooping cough and died, she said. Sitting in her makeshift tent last month, holding her 2-and-a-half-year-old daughter, Maryam, in her lap, she said, “This drought has finished us.”

imperiling lives across the Horn of Africa, with up to 20 million people in Kenya, Ethiopia and Somalia facing the risk of starvation by the end of this year, according to the World Food Program.

appealed to President Vladimir V. Putin of Russia to lift the blockade on exports of Ukrainian grain and fertilizer — even as American diplomats warned of Russian efforts to sell stolen Ukrainian wheat to African nations.

The most devastating crisis is unfolding in Somalia, where about seven million of the country’s estimated 16 million people face acute food shortages. Since January, at least 448 children have died from severe acute malnutrition, according to a database managed by UNICEF.

only about 18 percent of the $1.46 billion needed for Somalia, according to the United Nations’ financial tracking service. “This will put the world in a moral and ethical dilemma,” said El-Khidir Daloum, the Somalia country director for the World Food Program, a U.N. agency.

projected to increase by up to 16 percent because of the war in Ukraine and the pandemic, which made ingredients, packaging and supply chains more costly, according to UNICEF.

displaced by the drought this year. As many as three million Somalis have also been displaced by tribal and political conflicts and the ever-growing threat from the terrorist group Al Shabab.

cyclones, rising temperatures, a locust infestation that destroyed crops, and, now, four consecutive failed rainy seasons.

spend 60 to 80 percent of their income on food. The loss of wheat from Ukraine, supply-chain delays and soaring inflation have led to sharp rises in the prices of cooking oil and staples like rice and sorghum.

At a market in the border town of Doolow, more than two dozen tables were abandoned because vendors could no longer afford to stock produce from local farms. The remaining retailers sold paltry supplies of cherry tomatoes, dried lemons and unripe bananas to the few customers trickling in.

perished since mid-2021, according to monitoring agencies.

The drought is also straining the social support systems that Somalis depend on during crises.

As thousands of hungry and homeless people flooded the capital, the women at the Hiil-Haween Cooperative sought ways to support them. But faced with their own soaring bills, many of the women said they had little to share. They collected clothes and food for about 70 displaced people.

“We had to reach deep into our community to find anything,” said Hadiya Hassan, who leads the cooperative.

likely fail, pushing the drought into 2023. The predictions are worrying analysts, who say the deteriorating conditions and the delayed scale-up in funding could mirror the severe 2011 drought that killed about 260,000 Somalis.

Famine in Somalia.”

For now, the merciless drought is forcing some families to make hard choices.

Back at the Benadir hospital in Mogadishu, Amina Abdullahi gazed at her severely malnourished 3-month-old daughter, Fatuma Yusuf. Clenching her fists and gasping for air, the baby let out a feeble cry, drawing smiles from the doctors who were happy to hear her make any noise at all.

“She was as still as the dead when we brought her here,” Ms. Abdullahi said. But even though the baby had gained more than a pound in the hospital, she was still less than five pounds in all — not even half what she should be. Doctors said it would be a while before she was discharged.

This pained Ms. Abdullahi. She had left six other children behind in Beledweyne, about 200 miles away, on a small, desiccated farm with her goats dying.

“The suffering back home is indescribable,” she said. “I want to go back to my children.”

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Analysis: Russia’s ‘political’ debt default sets emerging market precedent

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  • Russia says has paid $100 mln in interest due on May 27
  • The country was rated investment grade in early 2022
  • A defaults pushes up borrowing costs for issuers

NEW YORK/LONDON, May 27 (Reuters) – Russia is on the cusp of a unique kind of debt crisis which investors say would be a first time a major emerging market economy is pushed into a bond default by geopolitics, rather than empty coffers.

Until the Kremlin launched an attack on Ukraine on Feb. 24, few would have entertained the possibility of Russia defaulting on its hard currency bonds. Its strong solvency track record, bumper export revenues and an inflation-fighting central bank had made it a favourite of emerging market investors.

But the U.S. Treasury’s decision not to extend a licence allowing Russia to keep up debt payments despite wide-ranging sanctions, have set Moscow on the road to default.

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The Russian finance ministry has wired some $100 million in interest payments on two bonds due on Friday to its domestic settlement house. But unless money shows up in foreign bondholders’ accounts, it will constitute a default by some definitions.

And even if funds go through this time, payments of nearly $2 billion are due by the end of the year. One in late June is mandated to be settled outside Russia – a task experts predict will be impossible without the U.S. waiver. read more

Emerging market debt crises are nothing new — Russia itself reneged on its rouble bonds in 1998. Geopolitics too have spilled into the debt sphere before, forcing defaults in Venezuela and Iran for instance.

Yet in Iran’s case, small amounts of loan debt were hit by U.S. sanctions after its 1979 revolution, while Venezuela’s economy was already on its knees before U.S. curbs in 2019 pushed $60 billion in sovereign and sub-sovereign debt across the brink.

Russia meanwhile continues to rake in oil and metals earnings. Even with half its $640 billion reserves’ war chest frozen by sanctions, the central bank has enough cash to repay the $40 billion outstanding in sovereign hard currency debt.

“This is a completely different crisis from other emerging market crises, it’s not about ability or willingness to pay, they technically cannot pay,” said Flavio Carpenzano, investment director at Capital Group, an asset manager that – like many others – was exposed to Russia before war erupted. read more

The impact is amplified by the fact this would be Russia’s first major foreign bond default since just after its 1917 Bolshevik revolution. Sanctions on Russia and its own countermeasures have effectively severed it from global financial systems.

Comparisons with recent defaults such as Argentina in 2020 are inappropriate because most countries’ finances are strained when defaults happen, said Stephane Monier, chief investment officer at Lombard Odier.

“This would be the first externally and politically driven default in emerging markets’ history,” Monier said.

The Treasury license expiry means creditors may be unable to receive payments anyway, which Daniel Moreno, head of global emerging market debt at Mirabaud Asset Management, likened to “turning the world upside down.”

“Me, the creditor, is now not willing to accept the payment,” he added.

NO GOING BACK

Russia’s international bonds, most of which started the year trading above par, have dropped in value to between 13-26 cents on the dollar. They have also been ejected from indexes.

A key difference with past defaulters such as Argentina or Venezuela is that Russia’s attack on Ukraine — which it calls a special operation — has made it a pariah in many investors’ eyes, probably for years to come.

“There is a huge stigma in actually holding these bonds, with emerging markets asset managers under pressure from their clients asking them not to invest in Russia and to liquidate their positions,” said Gabriele Foa, portfolio manager for the Algebris Global Credit Opportunity Fund.

For now, a potential default is symbolic because Russia cannot borrow internationally anyway, nor does it need to. But what comes further down the line is crucial.

Regime change in Russia could at some point end Western sanctions and allow it back into the fold.

But first, creditors face a long and costly process to recover money, for instance by exchanging defaulted bonds with new ones. read more

A default stigma would also raise future borrowing costs.

By defaulting “you increase the cost of funding and it’s very likely this will happen to Russia too. They will need to pay a premium,” said Capital Group’s Carpenzano.

The White House expects a default to have minimal impact on the U.S. or global economy but Carpenzano reckons events around Russia are forcing a re-assessment of geopolitical risks in emerging markets. read more

“Geopolitical noise has increased and investors would like to be compensated for this higher risk,” he said, citing China’s hefty investment outflows in recent weeks.

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Reporting by Davide Barbuscia in New York and Sujata Rao, Karin Strohecker, Marc Jones and Jorgelina do Rosario in London
Editing by Susan Fenton

Our Standards: The Thomson Reuters Trust Principles.

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Analysis: Why Twitter has ignored Elon Musk’s ‘trolling’

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Elon Musk twitter account is seen through Twitter logo in this illustration taken, April 25, 2022. REUTERS/Dado Ruvic/Illustration

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May 17 (Reuters) – A unilateral pronouncement that the acquisition of Twitter Inc (TWTR.N) is “on hold”. Fierce criticism of the social media company’s handling of spam accounts. A “poop emoji” directed at Twitter’s chief executive, Parag Agrawal.

These are just some of Elon Musk’s tweets in the last four days, culminating in a suggestion by the Tesla Inc (TSLA.O) chief executive at a conference in Miami on Monday that his $44 billion deal could be renegotiated at a lower price. read more

Twitter believes Musk’s comments have been in breach of the non-disparagement terms of his agreement to buy Twitter, according to people familiar with the matter.

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Yet the San Francisco-based company has not taken any legal action against Musk over what it sees as his “trolling” of the deal, and plans to do so only if he does not carry out the tasks needed to complete the transaction, the sources said.

One of the sources involved in the deal added that Twitter was trying to “block out the noise”.

Musk’s representatives have continued to collaborate with Twitter, according to the sources. They have been preparing information for submission to regulators, the sources said.

Twitter’s proxy statement on Tuesday, which outlined for its shareholders everything they need to know to vote on the transaction, made no mention of Musk’s comments about the deal being on hold or that it could be done at a lower price.

At the same time, some Twitter executives and advisers are concerned that Musk may be laying the groundwork for renegotiating the agreement and are preparing to defend the deal in court, according to the sources. They pointed to Musk’s comments about the deal becoming increasingly negative.

“My offer was based on Twitter’s SEC filings being accurate. Yesterday, Twitter’s CEO publicly refused to show proof… This deal cannot move forward until he does,” Musk tweeted on Tuesday morning.

The sources requested not to be identified because they were discussing confidential deal planning. Representatives for Twitter and Musk did not respond to requests for comment.

Some of Twitter’s leaders have not been indifferent to Musk’s comments. Agrawal took to Twitter on Monday to defend the company’s methodology for accounting for spam accounts, while Twitter chairman Bret Taylor tweeted on Friday that “we remain committed to our agreement”.

Twitter shares ended trading on Monday at $37.39, 5% lower than where they traded before Musk revealed on April 4 he had amassed a stake in the company, and 31% lower than the $54.20 per share deal price. This indicates that investors deem it highly likely that Musk will walk away or renegotiate the deal at a lower price.

Twitter is continuing to provide Musk with information on spam accounts, the sources said. Musk is entitled to this data as part of his planning to own Twitter under the terms of his agreement with the company.

Musk has questioned the accuracy of Twitter’s public disclosures in which the company has said that these accounts make up “well under 5%” of its user base. Twitter has cautioned that this is an estimate.

Independent researchers have projected that 9% to 15% of the millions of Twitter profiles are bots. Musk said on Monday that he suspects they make up at least 20% of Twitter’s users. read more

One concern weighing on Twitter as it shares information with Musk is that he may violate his non-disclosure agreement with the company and share confidential information about its platform and users, one of the sources said. Musk has argued that Twitter needs to make more information public about how its platform operates.

WAIVED DUE DILIGENCE

Musk, the world’s richest person, waived due diligence when he agreed to buy Twitter on April 25, in an effort to get the San Francisco-based company to accept his “best and final offer.”

Since then, technology stocks have plunged amid investor concerns over inflation and an economic slowdown.

Musk is contractually obligated to pay Twitter a $1 billion break-up fee if he does not complete the deal. But the contract also contains a “specific performance” clause that a judge can cite to force Musk to complete the deal.

In practice, acquirers who lose a specific performance case are almost never forced to complete an acquisition and typically negotiate a monetary settlement with their targets. read more

Wedbush Securities called Musk’s citing of the spam accounts as grounds to put the deal on hold a “dog-ate-the-homework excuse” given that the company was making the same disclosure on the matter since it went public in 2013.

“The stark reality for Twitter is that no other strategic/financial bidder will come near this deal and Musk knows that,” the Wedbush analysts wrote.

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Reporting by Greg Roumeliotis and Krystal Hu in New York. Editing by Gerry Doyle and Louise Heavens

Our Standards: The Thomson Reuters Trust Principles.

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Inside Twitter, Fears That Musk’s Views Will Revisit Past Troubles

Elon Musk had a plan to buy Twitter and undo its content moderation policies. On Tuesday, just a day after reaching his $44 billion deal to buy the company, Mr. Musk was already at work on his agenda. He tweeted that past moderation decisions by a top Twitter lawyer were “obviously incredibly inappropriate.” Later, he shared a meme mocking the lawyer, sparking a torrent of attacks from other Twitter users.

Mr. Musk’s personal critique was a rough reminder of what faces employees who create and enforce Twitter’s complex content moderation policies. His vision for the company would take it right back to where it started, employees said, and force Twitter to relive the last decade.

Twitter executives who created the rules said they had once held views about online speech that were similar to Mr. Musk’s. They believed Twitter’s policies should be limited, mimicking local laws. But more than a decade of grappling with violence, harassment and election tampering changed their minds. Now, many executives at Twitter and other social media companies view their content moderation policies as essential safeguards to protect speech.

The question is whether Mr. Musk, too, will change his mind when confronted with the darkest corners of Twitter.

The tweets must flow. That meant Twitter did little to moderate the conversations on its platform.

Twitter’s founders took their cues from Blogger, the publishing platform, owned by Google, that several of them had helped build. They believed that any reprehensible content would be countered or drowned out by other users, said three employees who worked at Twitter during that time.

“There’s a certain amount of idealistic zeal that you have: ‘If people just embrace it as a platform of self-expression, amazing things will happen,’” said Jason Goldman, who was on Twitter’s founding team and served on its board of directors. “That mission is valuable, but it blinds you to think certain bad things that happen are bugs rather than equally weighted uses of the platform.”

The company typically removed content only if it contained spam, or violated American laws forbidding child exploitation and other criminal acts.

In 2008, Twitter hired Del Harvey, its 25th employee and the first person it assigned the challenge of moderating content full time. The Arab Spring protests started in 2010, and Twitter became a megaphone for activists, reinforcing many employees’ belief that good speech would win out online. But Twitter’s power as a tool for harassment became clear in 2014 when it became the epicenter of Gamergate, a mass harassment campaign that flooded women in the video game industry with death and rape threats.

2,700 fake Twitter profiles and used them to sow discord about the upcoming presidential election between Mr. Trump and Hillary Clinton.

The profiles went undiscovered for months, while complaints about harassment continued. In 2017, Jack Dorsey, the chief executive at the time, declared that policy enforcement would become the company’s top priority. Later that year, women boycotted Twitter during the #MeToo movement, and Mr. Dorsey acknowledged the company was “still not doing enough.”

He announced a list of content that the company would no longer tolerate: nude images shared without the consent of the person pictured, hate symbols and tweets that glorified violence.

Alex Jones from its service because they repeatedly violated policies.

The next year, Twitter rolled out new policies that were intended to prevent the spread of misinformation in future elections, banning tweets that could dissuade people from voting or mislead them about how to do so. Mr. Dorsey banned all forms of political advertising, but often left difficult moderation decisions to Ms. Gadde.

landmark legislation called the Digital Services Act, which requires social media platforms like Twitter to more aggressively police their services for hate speech, misinformation and illicit content.

The new law will require Twitter and other social media companies with more than 45 million users in the European Union to conduct annual risk assessments about the spread of harmful content on their platforms and outline plans to combat the problem. If they are not seen as doing enough, the companies can be fined up to 6 percent of their global revenue, or even be banned from the European Union for repeat offenses.

Inside Twitter, frustrations have mounted over Mr. Musk’s moderation plans, and some employees have wondered if he would really halt their work during such a critical moment, when they are set to begin moderating tweets about elections in Brazil and another national election in the United States.

Adam Satariano contributed reporting.

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Ukraine Live Updates: Putin and Xi Pledge ‘No Limits’ to Russia-China Ties

Credit…Brendan Hoffman for The New York Times

YAVORIV, Ukraine — With television cameras rolling, a Ukrainian soldier heaved an America-made missile launcher onto his shoulder and pressed a red button. The missile streaked out and blew a target — a pile of tires — to smithereens.

For the more than two months after Russia began its military buildup near Ukraine last fall, the United States was quiet about its military aid to Kyiv, merely acknowledging sending arms that had been scheduled for delivery long ago.

That has changed now. American cargo planes bringing weaponry and ammunition are arriving openly at Kyiv’s Borispol airport. And the Ukrainian army is making a point of showing media these newly delivered weapons at a military training area.

In the last two weeks, seven U.S. cargo planes carrying a total of about 585 tons of military assistance have landed in Kyiv. After the latest plane arrived, on Thursday, Ukraine’s defense minister, Oleksiy Reznikov, posted on Twitter, “this is not the end! To be continued!”

Along with ammunition for small arms, the planes also delivered a significant number of missiles to Ukraine. These include Javelin anti-tank missiles, which the United States has been providing to Ukraine since 2018.

It also included a type of American-made, shoulder-launched missile that can blow up sandbagged fortifications and destroy partially buried bunkers. On Friday, Ukrainian soldiers fired 10 of the so-called “bunker busters” for international media, including a Japanese television crew.

To critics of the policy of arming Ukraine, this weapon seems provocative. Within Ukraine, nearly half the respondents to an opinion poll published on Wednesday said they believed Western weaponry will deter Russia, but a third said they thought it would do the opposite — provoke an attack. The Russian government has objected to the weapons transfers, and Germany is staunchly opposed to them.

“I do not think it’s realistic to believe such weapons exports could turn around the military imbalance,” Annalena Baerbock, Germany’s foreign minister, said on a visit to Kyiv on Monday.

Ukraine’s policy of publicly displaying the new weaponry adds to their value as a deterrent, said Maria Zolkina, a political analyst at Democratic Initiatives Foundation. The media events, she said, will help “destroy the myth that an unprotected Ukraine as an easy catch for Russia.”

Ukraine’s foreign minister, Dmytro Kuleba, has said the weapons airlifts strengthen Ukraine’s hand in dealing with Russia.

“The stronger Ukraine is the lower are the risks of further Russian aggression,” he said in a video conference with journalists this week. “The more defensive weapons we get today the less likely we will need to use them.”

The United States is not the only country that has been arming Ukraine in the airlifts that began last month. The United Kingdom sent about 2,000 light anti-tank missiles. With approval from the United States, the Baltic countries of Latvia, Lithuania and Estonia said they would transfer Stinger antiaircraft missiles, filling gaps in Ukraine’s weak air defenses. Poland has also said it will send antiaircraft missiles.

At the demonstration firing of the American bunker busters, only Ukrainian soldiers handled the weapon. They had been through a three-day course taught by instructors from the 53d Infantry Brigade of the Florida National Guard. The Americans stood aside, declining to appear on camera.

The launching tube and missile weigh about 15 pounds and look like a small, green log. When a missile was fired, the whooshing noise rattled dishes on a picnic table set up to provide snacks for the visiting journalists. Ukrainian soldiers cheered when missiles hit the targets of tires and exploded in a red flash.

“It’s very simple, just a gadget,” said Ivan, a 25-year-old Ukrainian senior sergeant, now trained in firing the new missile, who declined to give his last name for security reasons. The soldiers also covered their faces with balaclavas to protect their identities.

But the training itself was simple, Ivan said. “A boy or a girl of any age can fire it. It’s like an iPhone.”

Andrew E. Kramer contributed reporting in Kyiv.

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Italy Ponders a New Role for Draghi. Let the Politicking Begin.

The secrecy, and self-interested nature, of the vote makes it ripe for influence peddling. In recent days, opening gambits took the form of government-collapsing ultimatums, with Mr. Berlusconi saying that he would pull his party out of government if Mr. Draghi became president.

Secret negotiations between the nationalist League, led by Matteo Salvini, and the center-left Democratic Party, are already underway, with the aim of avoiding new elections, possibly by keeping Mr. Draghi as prime minister of a government consisting of political leaders rather than technocrats.

Many, though perhaps not Mr. Draghi, are hoping that after sufficient votes fail to materialize for presidential hopefuls in opening ballots, a reluctant Mr. Mattarella, 80, can be persuaded by a broad alliance to serve another term, or at least to stick around for a couple more years and leave a new term early.

In theory, that would allow Mr. Draghi to defer his dream job until after the vital recovery fund programs have been put in place. But a year or two is an eternity in constantly evolving Italian politics.

Mr. Draghi, no political neophyte, has added his own pressure, asking the political parties if it was at all imaginable for a government that splinters on the choice of a president — be it him or anyone else — to “come back together magically” to run the country.

But even Mr. Draghi has not been untarnished by the political sniping. His backers say that he has become a more politically cautious broker between the bickering parties than their firm leader. In his most recent news conference, the prime minister sounded defensive, insisting that he was the one really making decisions. His honeymoon period seems to have ended.

“There is a lot of noise in the system because of this presidential race,” Mr. Colao said, nevertheless acknowledging that political pressure had “on the margins” increased the urgency of getting modernizing projects into the pipeline.

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The New Political Cry in South Korea: ‘Out With Man Haters’

SEOUL — They have shown up whenever women rallied against sexual violence and gender biases in South Korea. Dozens of young men, mostly dressed in black, taunted the protesters, squealing and chanting, “Thud! Thud!” to imitate the noise they said the “ugly feminist pigs” made when they walked.

“Out with man haters!” they shouted. “Feminism is a mental illness!”

On the streets, such rallies would be easy to dismiss as the extreme rhetoric of a fringe group. But the anti-feminist sentiments are being amplified online, finding a vast audience that is increasingly imposing its agenda on South Korean society and politics.

These male activists have targeted anything that smacks of feminism, forcing a university to cancel a lecture by a woman they accused of spreading misandry. They have vilified prominent women, criticizing An San, a three-time gold medalist in the Tokyo Olympics, for her short haircut.

They have threatened businesses with boycotts, prompting companies to pull advertisements with the image of pinching fingers they said ridiculed the size of male genitalia. And they have taken aim at the government for promoting a feminist agenda, eliciting promises from rival presidential candidates to reform the country’s 20-year-old Ministry of Gender Equality and Family.

runaway housing prices, a lack of jobs and a widening income gap.

YouTube channel with 450,000 subscribers. To its members, feminists equal man haters.

Its motto once read, “Till the day all feminists are exterminated!”

The backlash against feminism in South Korea may seem bewildering.

the highest gender wage gap among the wealthy countries. Less than one-fifth of its national lawmakers are women. Women make up only 5.2 percent of the board members of publicly listed businesses, compared with 28 percent in the United States.

And yet, most young men in the country argue that it is men, not women, in South Korea who feel threatened and marginalized. Among South Korean men in their 20s, nearly 79 percent said they were victims of serious gender discrimination, according to a poll in May.

“There is a culture of misogyny in male-dominant online communities, depicting feminists as radical misandrists and spreading fear of feminists,” said Kim Ju-hee, 26, a nurse who has organized protests denouncing anti-feminists.

The wave of anti-feminism in South Korea shares many of the incendiary taglines with right-wing populist movements in the West that peddle such messages. Women who argue for abortion rights are labeled “destroyers of family.” Feminists are not champions of gender equality, but “female supremacists.”

In South Korea, “women” and “feminists” are two of the most common targets of online hate speech, according to the country’s National Human Rights Commission.

abortions were common.

mandatory military service. But many women drop out of the work force after giving birth, and much of the domestic duties fall to them.

“What more do you want? We gave you your own space in the subway, bus, parking lot,” the male rapper San E writes in his 2018 song “Feminist,” which has a cult following among young anti-feminists. “Oh girls don’t need a prince! Then pay half for the house when we marry.”

The gender wars have infused the South Korean presidential race, largely seen as a contest for young voters. With the virulent anti-feminist voice surging, no major candidate is speaking out for women’s rights, once such a popular cause that President Moon Jae-in called himself a “feminist” when he campaigned about five years ago.

has said.

It is hard to tell how many young men support the kind of extremely provocative​ and often theatrical​ activism championed by groups like Man on Solidarity. Its firebrand leader, Mr. Bae, showed up at a recent feminist rally​​ dressed as the Joker from “Batman” comics and toting a toy water gun. He followed female protesters around, pretending to, as he put it, “kill flies.”

Tens of thousands of fans have watched his stunts livestreamed online, sending in cash donations. During one online talk-fest in August, Mr. Bae raised nine million won ($7,580) in three minutes.

legalize abortion and started one of the most powerful #MeToo campaigns in Asia.

Lee Hyo-lin, 29, said that “feminist” has become such a dirty word that women who wear their hair short or carry a novel by a feminist writer risk ostracism. When she was a member of a K-pop group, she said that male colleagues routinely commented on her body, jeering that she “gave up being a woman” when she gained weight.

“The #MeToo problem is part of being a woman in South Korea,” she said. “Now we want to speak out, but they want us to shut up. It’s so frustrating.”

On the other side of the culture war are young men with a litany of grievances — concerns that are endlessly regurgitated by male-dominated forums. They have fixated, in particular, on limited cases of false accusations, as a way to give credence to a broader anti-feminist agenda.

Son Sol-bin, a used-furniture seller, was 29 when his former girlfriend accused him of rape and kidnapping in 2018. Online trolls called for his castration, he said. His mother found closed-circuit TV footage proving the accusations never took place.

“The feminist influence has left the system so biased against men that the police took a woman’s testimony and a mere drop of her tears as enough evidence to land an innocent man in jail,” said Mr. Son, who spent eight months in jail before he was cleared. “I think the country has gone crazy.”

As Mr. Son fought back tears during a recent anti-feminist rally, other young men chanted: “Be strong! We are with you!”

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