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iRobot, the maker of the Roomba robotic vacuum cleaner, filed for Chapter 11 bankruptcy protection on Sunday, marking a dramatic reversal for a company that once defined the consumer robotics industry.

The filing clears the way for iRobot to go private under a deal with Picea Robotics, its primary manufacturer, as mounting competition, debt and new US tariffs weigh heavily on its finances.

The company filed in Delaware bankruptcy court, saying the restructuring is aimed at stabilising operations rather than shutting them down.

iRobot said the process is not expected to disrupt its app functionality, product support, customer programmes or supply chain relationships.

iRobot entered bankruptcy with about $190 million in debt, much of it stemming from a 2023 loan used to refinance operations while regulators reviewed a proposed acquisition by Amazon.com.

Under the bankruptcy plan, China-based Picea will take 100% ownership of iRobot, cancelling the remaining $190 million on the 2023 loan as well as an additional $74 million owed under the companies’ manufacturing agreement.

Other creditors and suppliers are expected to be paid in full. The deal values iRobot at a fraction of its former worth.

The company was valued at $3.56 billion in 2021, driven by pandemic demand, but is now worth about $140 million, according to LSEG data.

Competitive pressures erode profits

iRobot generated about $682 million in revenue in 2024, but profitability has steadily deteriorated.

Court filings show that competition from lower-priced Chinese rivals, including Ecovacs Robotics, forced the company to cut prices and invest heavily in technology upgrades to defend its market position.

While iRobot remains dominant in key markets such as the United States and Japan, holding roughly 42% and 65% market share respectively, the influx of cheaper alternatives has made it harder to maintain margins.

Earnings have been under pressure since 2021, following pandemic-era demand that later proved unsustainable.

Tariffs add fresh strain

New US tariffs compounded those challenges.

iRobot manufactures vacuum cleaners for the US market in Vietnam, which has been hit with a 46% levy on imports.

According to court documents, the tariffs added roughly $23 million to costs in 2025 alone, while also complicating longer-term planning.

The company said the policy uncertainty made it more difficult to forecast expenses and pricing, further straining a business already operating at a loss.

Debt rooted in failed Amazon deal

Amazon had agreed in 2022 to buy iRobot for about $1.7 billion, but European competition authorities raised concerns that the deal could harm rivals.

The companies abandoned the transaction in January 2024, with Amazon paying a $94 million break-up fee.

iRobot’s then chief executive resigned, the share price plunged, and the company cut nearly a third of its workforce.

After iRobot fell behind on payments, Picea acquired the debt from investment funds managed by the Carlyle Group, according to court filings.

From robotics pioneer to restructuring

Founded in 1990 by three MIT roboticists, iRobot initially focused on defence and space projects before launching the Roomba in 2002.

The product became a cultural phenomenon and helped the company sell more than 50 million robots over two decades.

At its peak, iRobot expanded aggressively, even launching a venture arm in 2015 to invest in early-stage robotics startups.

But as competition intensified and costs rose, that early promise faded.

With 274 employees remaining and its future now in the hands of its manufacturer, iRobot’s bankruptcy underscores how quickly fortunes can shift in consumer technology, particularly as global trade policy and low-cost competition reshape the market.

The post A household name falters: how Roomba maker iRobot slid into bankruptcy appeared first on Invezz

The Fresnillo share price has jumped by ~380% this year, making it the best-performing company in the FTSE 100 Index. It has done better than the Footsie and other companies in the index. For example, Airtel Africa, the second-best performer, has jumped by 170% this year.

Fresnillo share price chart | Source: TradingView

Soaring gold and silver boosted the Fresnillo share price

The main reason why the Fresnillo share price surged this year is that it is involved in gold and silver prices. 

As a result, it benefited as these precious metals soared to their record highs. Silver price jumped by 120%, while gold was up by 65% in their best years in a long time.

Gold, silver, and other precious metals well because of the rising demand from around the world.

Central banks from countries like China and Russia continued buying gold this year as part of their diversification strategy away from the US dollar.

The soaring demand was also from private companies. For example, Tether, the company behind the biggest stablecoin, bought over 116 metric tons of gold, which are currently worth about $15 billion.

Tether bought this gold as part of its strategy to back USDT and Tether Gold, which has a market capitalization of over $1.4 billion. Unlike other stablecoins like USDC, RLUSD, and PYUSD, USDT is backed by a portfolio of assets like gold, Bitcoin, and short-term government bonds  

Meanwhile, data shows that gold and silver ETF inflows have done well this year. The SPDR Gold Trust (GLD) has had over $20 billion in inflows, while the iShares Silver Trust (SLV) ETF has brought in over $2.6 billion in inflows this year. 

Silver price has done better than gold because of the close correlation between the two assets. In most cases, the silver price normally does better than gold when the latter is rising, and then lags when it is falling.

The two metals have done well because of the actions of the Federal Reserve and other central banks. The Fed has slashed interest rates three times, while other top ones like the European Central Bank (ECB), the Swiss National Bank (SNB), and Bank of England have lowered rates in this period.

Fresnillo’s business has benefited from gold and silver prices gains

The Fresnillo stock price has soared as the company has benefited from the ongoing performance of these precious metals. That’s because it is one of the biggest silver miners in the world.

The most recent results showed that the company’s revenue rose by 27% in the first half of the fiscal year. This growth was because of the elevated prices and gold production, which was offset by lower silver supply.

Most importantly, the surge in revenue happened as the company was reducing its costs. The adjusted production cost dropped by 20% to $673 million, helped by the Mexican peso devaluation.

Fresnillo’s profit jumped by 297% to $467 million, while the free cash flow rose to $1.02 billion. As a result, the company boosted its balance sheet, with amount of cash in its balance sheet hitting $1.8 billion.

Will the Fresnillo stock price surge continue?

The question among investors is whether the Fresnillo stock price has more upside to go in the coming year. 

This performance will depend on the performance of gold and silver prices during the year. Some analysts believe that these two metals have more upside as the Fed has committed to cut interest rates and implementing a quantitative easing policy.

As a result, some analysts see gold soaring to as high as $5000 and silver hitting the key resistance level at $100. Such a move will help to boost its stock performance.

However, it is worth noting that precious metals are usually cyclical and a surge in one year is accompanied by a drop in the following year. 

Therefore, there is a risk that the Fresnillo share price will pull back in the coming weeks or months as investors start to book profits.

READ MORE: Top 5 reasons gold price is on a relentless bull run

The post Here’s why this FTSE 100 Index stock jumped ~380% in 2025 appeared first on Invezz

Shares of French pharmaceutical group Sanofi fell sharply on Monday after the company flagged another delay to a US regulatory decision for its experimental multiple sclerosis drug tolebrutinib and reported disappointing results from a late-stage clinical trial.

The stock dropped as much as 5% in early trading, making it the worst performer on Paris’s SBF 120 index, before trimming losses to trade about 4% lower.

The update marks a setback for one of Sanofi’s most closely watched pipeline assets as the company seeks to rebuild momentum following a string of trial disappointments.

FDA review pushed back again

Sanofi said discussions with the US Food and Drug Administration indicated that a regulatory review of tolebrutinib for non-relapsing secondary progressive multiple sclerosis would extend beyond a target action date of December 28.

The company now expects further guidance from the FDA by the end of the first quarter of 2026.

This represents the second delay to a decision initially expected in September, before being pushed to late December.

Sanofi had already disclosed in September that the FDA had extended its review by three months.

Tolebrutinib was granted breakthrough therapy designation by the FDA last December, a status intended to speed the development of drugs that address serious conditions with unmet medical needs.

The treatment is also under regulatory review in the European Union and received provisional approval in the United Arab Emirates in July.

Late-stage trial misses key target

Adding to investor concerns, Sanofi said tolebrutinib failed to meet its primary endpoint in a late-stage trial involving patients with primary progressive multiple sclerosis.

The study showed the drug did not significantly slow disability progression in this form of the disease, which accounts for roughly 10% of multiple sclerosis cases.

As a result, Sanofi said it would not pursue regulatory registration for tolebrutinib in primary progressive multiple sclerosis.

The company will also assess whether it needs to book an impairment charge on the asset’s value.

“We are disappointed by today’s results; however, we do believe that these results will improve our understanding of the underlying disease biology of multiple sclerosis,” said Houman Ashrafian, Sanofi’s head of research and development.

Focus shifts to remaining opportunity

Despite the trial failure, Sanofi stressed that it remains confident in the potential of tolebrutinib for non-relapsing secondary progressive multiple sclerosis, a condition in which patients no longer experience relapses but continue to accumulate disability.

Jefferies analysts described the trial outcome as a negative surprise but said the larger commercial opportunity still lay in this patient group.

Analysts had previously seen a path for the drug to generate more than €1 billion in annual sales by 2030, according to consensus estimates compiled by Visible Alpha.

Sanofi said its 2025 guidance remains unchanged and that any potential impairment test would not affect business net profit, which excludes one-off items.

Pipeline pressure and dealmaking

The latest developments underscore the pressure on Sanofi’s drug pipeline as it works to move past recent clinical setbacks.

The company has increasingly turned to dealmaking this year, using proceeds from the sale of a controlling stake in its consumer healthcare business to bolster its portfolio.

For now, the market reaction reflects uncertainty over whether tolebrutinib can still deliver on its promise, even as Sanofi argues that its remaining data support continued development in a narrower, but still significant, segment of multiple sclerosis patients.

The post Sanofi shares slide as FDA delays MS drug decision and late-stage trial disappoints appeared first on Invezz

As investors stare down the start of 2026, one thing is clear: the playbook that worked over the last decade won’t cut it in the next.

Between stubborn inflation fears, a ballooning US national debt and relentless innovation in digital finance, the lines between Wall Street, Washington and Web3 are blurring fast.

That’s exactly the crossroads where Jac Arbour spends his time.

Arbour, a CFP and ChFC, is the founder and CEO of J.M. Arbour Wealth Management, a firm he launched in 2007 that now serves more than 1,300 individuals and families.

He has been watching three powerful currents gathering speed: institutional money moving into tokenized real-world assets, a potential rotation away from mega-cap growth darlings into small and mid-cap value, and renewed momentum in gold and utility-focused crypto assets like Ethereum.

In an exclusive interview with Invezz, Arbour unpacks why these shifts matter, how they could reshape portfolios in the year ahead, and what forward-looking investors should be watching as 2026 comes into view.

Excerpts:

Invezz: What should investors actually be doing differently heading into 2026? What’s changed versus what’s just noise?

Jac Arbour: What has materially changed going into 2026 is the rate of change in key macro variables, particularly liquidity, earnings breadth, and the global rate-cut cycle.

Markets are transitioning from a narrow, liquidity-driven environment to one that increasingly rewards selectivity, diversification, and disciplined risk management.

What has not changed is investor behaviour as people still overreact to headlines and underestimate the durability of long-term trends.

The key here is not to always follow the crowd to the point where pricing can be justified solely by fundamental analysis.

At J.M. Arbour, we are advising clients to upgrade their portfolios rather than overhaul them.

Rebalance into strength, trim concentration risk, and add exposure to assets that benefit from a moderating inflation, stable-growth backdrop.

Upgrading quality is essential, and so is a dose of high-quality private assets.

The biggest mistake is treating 2026 as a reset year; as most signals indicate, it is actually a continuation of the same structural trends, with more volatility in certain sectors, which could be good or bad depending on other variables.

Price-to-earnings will likely stay high, and tracking volatility-based returns should zoom into focus.

Invezz: Why should first-time investors consider digital assets in 2026? What real problem do they solve?

Jac Arbour: The noise around digital assets can be overwhelming, but the underlying value proposition has never been clearer:

Digital assets solve three problems traditional financial instruments struggle with:

  1. 24/7 global settlement without intermediaries, and done insanely fast
  2. Programmable ownership that enables new forms of yield, collateralization, and governance
  3. Access to emerging technologies and networks in a way that equities can’t fully capture

For someone new to the space in 2026, the case isn’t speculation but rather portfolio efficiency.

Tokenized treasuries, stablecoins, and high-quality layer-one networks provide liquidity, diversification, and asymmetric upside with increasingly institutional infrastructure behind them.

All the big boys are on board and working fast behind the scenes to be the leaders in the space, whether they discuss it or not.

Our stance is conservative: start small, focus on utility-driven assets, and treat crypto as a complement, not a replacement, to traditional holdings.

Even if you start with 1% of investable assets in this asset class, the asymmetric rewards it offers could impact 20% or more of the downside on the other 99%, should it happen.

Worst-case scenario, I view it as a hedging tool. The use of option collars is a way for investors to grab some exposure with limited downside.

Invezz: Mega-cap tech has dominated for years. Is diversification finally relevant again? How are you positioning clients?

Jac Arbour: Mega-cap tech remains foundational. The cash flows, balance sheets, and AI infrastructure advantages are real.

We’re seeing improving technical and fundamental signals in industrial automation, cybersecurity, energy infrastructure, and certain parts of healthcare.

Diversification will always matter; not because mega-caps will collapse, but because other sectors are ready to participate in the growth cycle.

Also important to note: the speed at which other sectors can become increasingly significant is faster than we have seen in previous decades due to the technology to which all sectors have access.

For clients, we’re suggesting consideration of:

  • Maintaining core exposure to the largest tech platforms
  • Rotating incrementally into sectors with improving earnings revisions
  • Using alternatives such as private credit, venture capital, all-cap value with small and mid-cap core/value concentrations, digital assets, and managed futures to counter single-sector concentration risk.

It’s not about abandoning what’s worked; it’s about building a more resilient return stream for the next three years.

Invezz: Gold near all-time highs: still a hedge, or too expensive? How are you protecting clients from inflation in 2026?

Jac Arbour: Gold’s strength isn’t about inflation alone. It is also about global uncertainty, fiscal dominance, and declining real yields.

While it’s elevated, it is not overextended from a macro-cycle standpoint. We still view gold and gold-linked assets as a valid hedge, though position sizing matters more at these levels.

Our 2026 inflation-protection framework blends:

  • Gold and miners (measured allocations, not oversized bets)
  • Global Inflation-linked assets
  • Energy and infrastructure equities
  • Selective digital-asset exposure has behaved increasingly like a hedge against monetary debasement.

The goal is to protect purchasing power without anchoring the entire portfolio to a single outcome.

Invezz: How much are client conversations about defence vs. growth? Are investors too optimistic?

Jac Arbour: Right now, it’s roughly 60% risk management, 40% growth. People are aware of the geopolitical noise and fiscal issues, but they’re also seeing resilient earnings and improving liquidity conditions.

Clients generally aren’t too optimistic about the broad spectrum. Those asking the right questions, in my opinion, are becoming narrow in their focus.

When a person is too uncertain of their approach, it can be costly. Sitting on the sidelines during periods of elevated volatility has historically led to underperformance.

And right now, volatility is high. It’s time to be a sniper. Put the shotgun in the vault. And don’t be greedy.

Our message is consistent:

The macro backdrop warrants caution, not paralysis. A defensive bias is healthy, but it must be paired with a plan to capture upside when markets resume or maintain (which is very possible) broadening.

Invezz: If someone is sitting on cash or an outdated portfolio, what’s the one move they should make before 2026?

Jac Arbour: The single most impactful action is to modernize the portfolio’s core allocations. That means:

  • Reducing legacy concentration risk without diluting quality
  • Incorporating assets that benefit from today’s rate and liquidity dynamics.  
  • Building exposure to structural themes like AI, digital infrastructure, and tokenized assets. Like it or not, understand them or not, these assets are here to stay.

It’s less about finding “the trade of 2026” and more about making sure the portfolio is aligned with today’s market regime, not yesterday’s.

Cash is not a long-term strategy. A modernized, diversified allocation is worth consideration.

The post Interview: ‘the biggest mistake is treating 2026 as a reset year,’ Jac Arbour on modernising portfolios for next market regime appeared first on Invezz

India has moved to loosen long-standing restrictions in its nuclear power sector as it looks to speed up capacity additions and close widening funding gaps.

Legal amendments introduced in parliament on Monday would allow private companies to participate in a field that has remained under state control for decades.

The proposed changes reflect pressure on the government to secure reliable, low-carbon electricity while keeping pace with rising demand.

They also mark a shift in policy thinking, as nuclear power regains prominence globally amid concerns over energy security, emissions, and the electricity needs of data centres and artificial intelligence-driven growth.

Bill aims to scale nuclear capacity

The amendments seek parliamentary approval for a framework that would support building 100 gigawatts of nuclear capacity by 2047, the year India aims to achieve developed-nation status.

Power ministry estimates suggest the effort would require investments of about $213 billion, a scale that has proven difficult to meet through public funding alone.

India currently operates 25 nuclear reactors with a combined capacity of 8.8 gigawatts. All are run by the state-owned Nuclear Power Corporation of India Ltd.

With private firms barred from building or operating reactors, expansion has lagged behind earlier targets.

An initial plan to reach 63 gigawatts of nuclear capacity by 2032 was later scaled down after delays and financing constraints became evident.

Global energy trends add urgency

The push to reform India’s nuclear sector comes as governments worldwide reassess the role of atomic power.

Japan is gradually restarting reactors that were shut down after the 2011 Fukushima disaster.

The UK, China, and South Korea are building new facilities to diversify their energy mix.

This renewed interest is driven by decarbonisation goals and surging electricity demand linked to digital infrastructure and industrial growth.

For India, where coal remains the dominant source of power, nuclear energy is increasingly viewed as a way to provide stable baseload electricity while limiting long-term reliance on fossil fuels.

Liability rules shaped market access

India’s cautious approach to nuclear liberalisation has deep roots. After the 1984 Bhopal gas leak, which killed thousands, the country introduced some of the world’s strictest industrial liability rules.

India became the only nation to impose accident liability on both equipment suppliers and plant operators.

These regulations discouraged foreign participation and stalled multiple projects.

Companies such as General Electric stayed out of the market, while planned developments involving Westinghouse Electric and Electricite de France struggled to progress.

Industry observers do not expect major political hurdles for the proposed amendments.

The opposition Congress party is expected to back the move, having supported the 2008 nuclear agreement when it was in government.

With the Bharatiya Janata Party and its coalition partners holding majorities in both houses of parliament, passage of the bill appears likely.

Opposition has come mainly from civil society. The National Alliance for Anti-nuclear Movement has argued that the legislation could normalise land acquisition for nuclear projects and increase exposure to radioactive waste.

The post India plans to turn to private capital to unlock nuclear energy growth appeared first on Invezz

JPMorgan Chase has joined a growing group of traditional financial firms bringing blockchain technology to mainstream investment products, unveiling its first tokenized money-market fund on the Ethereum network.

The move, reported by The Wall Street Journal, comes as Wall Street deepens its push into tokenization following new US legislation that clarified the regulatory framework for digital assets tied to traditional finance.

First fund seeded with JPMorgan capital

The banking group’s $4 trillion asset-management arm is seeding the fund with $100 million of its own capital before opening it to outside investors.

The fund, known as My OnChain Net Yield Fund, or MONY, will be available to qualified investors from Tuesday.

MONY is supported by JPMorgan’s tokenization platform, Kinexys Digital Assets, and is structured as a private fund.

Eligibility is limited to individuals with at least $5 million in investable assets and institutions with a minimum of $25 million, with a $1 million investment threshold.

Investors can subscribe through JPMorgan’s Morgan Money portal, receiving digital tokens representing their holdings directly into crypto wallets.

How the fund works on blockchain

Like traditional money-market funds, MONY invests in baskets of short-term, low-risk debt securities that typically offer higher yields than bank deposits.

The fund pays interest and accrues dividends daily.

Investors can subscribe to and redeem shares using either cash or USDC, the dollar-pegged stablecoin issued by Circle Internet Group.

The use of stablecoins allows transactions to settle directly on blockchain infrastructure without moving funds back into the traditional banking system.

JPMorgan says this structure gives investors exposure to familiar cash-management products while keeping assets fully on-chain.

Regulation spurs tokenization push

Interest in tokenized finance has accelerated since the passage of the Genius Act earlier this year, which established a regulatory framework for stablecoins.

The legislation has encouraged banks and asset managers to explore blockchain-based versions of established products.

“There is a massive amount of interest from clients around tokenization,” said John Donohue, head of global liquidity at JP Morgan Asset Management.

“And we expect to be a leader in this space and work with clients to make sure that we have a product lineup that allows them to have the choices that we have in traditional money-market funds on blockchain.”

Tokenization is seen as a way to reduce settlement times, lower administrative costs, and improve transparency for asset managers.

Money funds meet digital assets

Money-market funds, a cornerstone of cash management since the 1970s, have grown in popularity amid higher interest rates.

Assets in money funds stand at about $7.7 trillion, up from $6.9 trillion at the start of 2025, according to the Investment Company Institute.

At the same time, the stablecoin market has expanded rapidly, with total market capitalization exceeding $300 billion, according to CoinGecko.

Tokenized money-market funds appeal to crypto-native investors because they allow idle stablecoin balances to earn yield, addressing a long-standing drawback of holding cash-like assets on blockchain networks.

Competition heats up among asset managers

JPMorgan’s move follows similar initiatives by major rivals.

BlackRock operates the largest tokenized money-market fund, with more than $1.8 billion in assets.

Goldman Sachs and Bank of New York Mellon have also announced partnerships to tokenize money-market fund ownership for institutional clients.

Beyond money funds, JPMorgan has recently tokenized a private-equity fund for wealthy clients, while trading platforms such as Robinhood, Kraken, and Gemini have launched tokenized stocks and exchange-traded funds for non-US investors.

The launch of MONY underscores how traditional finance is increasingly converging with blockchain infrastructure, as banks test whether digital rails can support some of the world’s most conventional investment products.

The post JPMorgan rolls out tokenized money-market fund on Ethereum: report appeared first on Invezz

Juventus Football Club shares rose sharply after Exor, the Agnelli family’s holding company, rejected an unsolicited takeover proposal from cryptocurrency issuer Tether, underscoring growing financial-sector interest in elite European football clubs.

Shares in the Turin-based club climbed 13% in European morning trading on Monday, recovering some of their losses earlier in the year.

Despite the rebound, Juventus stock remains down about 19% year to date, valuing the club at roughly €937 million ($1.10 billion), according to FactSet.

The rally followed confirmation over the weekend that Exor had turned down a binding, all-cash offer from Tether for its controlling stake in Juventus, reaffirming the Agnelli family’s long-standing commitment to the club.

Tether’s bid and Exor’s rejection

Tether, the operator of the world’s largest stablecoin, said on Friday that it had submitted a proposal to acquire Exor’s 65.4% stake in Juventus and that it intended to launch a public offer for the remaining shares.

While the proposed purchase price was not disclosed, Tether said it was prepared to invest €1 billion to support the club should the transaction proceed.

Exor responded on Saturday by stating that its board had unanimously rejected the offer.

The holding company made clear that it had no intention of selling any of its Juventus shares to Tether or to any other third party.

“Juventus is a storied and successful club, of which Exor and the Agnelli family are the stable and proud shareholders for over a century, and they remain fully committed to the club,” Exor said in a statement.

Although Juventus is majority owned by Exor, the club is publicly listed.

Tether already holds an 11.5% stake, according to Juventus’s website, making it one of the club’s notable minority shareholders.

Financial groups eye European soccer

Tether’s approach highlights the increasing interest from financial investors in European football, as clubs seek capital to compete in an environment shaped by lucrative media rights, global fan bases, and rising player transfer costs.

Private-equity firms and other financial backers have become more active across the continent.

Last month, Apollo Global Management agreed to acquire a majority stake in Spanish club Atlético de Madrid.

In Italy, ownership at Juventus’s historic rivals has shifted in recent years.

US buyout firm RedBird Capital took control of AC Milan for about $1.2 billion in 2022, while US investor Oaktree Capital seized control of Inter Milan last year.

These transactions reflect a broader trend of financial investors seeking exposure to football clubs as long-term assets with global brands, diversified revenue streams, and potential for value creation through commercial expansion.

Market reaction and outlook

Juventus shares’ sharp rise suggests investors welcomed the clarity provided by Exor’s rejection, removing uncertainty around a potential change in control.

The stock’s rebound also comes after a period of underperformance, which had left valuations below recent historical levels.

For its part, Tether said its proposal was designed to support Juventus in a rapidly changing global sports and media landscape, offering stable capital and a long-term investment horizon.

The company said it viewed Juventus as more than a football club, reflecting confidence in its broader brand and commercial potential.

However, Exor’s stance signals that, at least for now, the Agnelli family intends to retain control.

With financial investors continuing to circle Europe’s top clubs, Juventus’s ownership structure appears set to remain unchanged, even as the sector undergoes a wave of consolidation and new investment interest.

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After more than eight years of Democrat lawfare against President Trump, his aides and his allies, the Justice Department under Attorney General Pam Bondi is bringing much-needed accountability — which is what American voters demanded in our last presidential election. But Democrat activist judges are doing what they do best: weaponization and sabotage.

In South Carolina, Clinton-appointed Judge Cameron Currie — handpicked by a Biden-appointed judge — wrongly disqualified Eastern District of Virginia U.S. Attorney Lindsey Halligan, the bold and fearless prosecutor who had secured an indictment against former FBI Director James Comey for lying and obstruction of a Senate investigation into his politicization, weaponization, and corruption of the intel agencies and law enforcement to go after political enemies and protect political allies. The government is appealing that decision to the Fourth Circuit Court of Appeals.  Now, another Clinton-appointed judge in the District of Columbia, Colleen Kollarr-Kotelly, has interfered even more egregiously with the government’s case. This ruling threatens the separation of powers essential to the Republic, and either the D.C. Circuit or Supreme Court must intervene immediately.

Comey was indicted on two charges: making false statements to Congress and obstruction of Congress. The indictment stemmed from the events surrounding Operation Crossfire Hurricane, more colloquially known as the Russiagate hoax. Comey used his longtime friend, Columbia Law Professor Daniel Richman, as a conduit to leak material unfavorable to President Trump to media outlets. In addition to being a law professor, Richman was a government contractor. He and Comey communicated frequently via email on government and private accounts. Communications on a government email account enjoy no reasonable expectation of privacy — the standard under the Fourth Amendment as a result of Justice Harlan’s concurrence in Katz v. United States (1967) — because the government can monitor its own email servers.

Six years ago, even Obama-appointed Judge James Boasberg, a judicial disgrace about whom we often have written, signed a warrant authorizing the search and seizure of emails on Richman’s computer and iCloud account and his account at Columbia. Richman was able to review all emails and withhold the information he deemed privileged from all but one account. Now, Richman — who was the recipient of many emails from Comey and the sender of many emails to him — has sought to reclaim those emails pursuant to Federal Rule of Criminal Procedure 41(g). This rule allows an individual to ask a court to reclaim his property obtained pursuant to an unlawful search and/or seizure in violation of the Fourth Amendment.

Shockingly, Kollar-Kotelly granted the motion and has ordered the FBI to destroy the emails by 4 p.m. on Monday.  Kollar-Kotelly’s ruling ordered the destruction of emails obtained pursuant to a warrant signed by another (Obama) judge six years ago.  She claims that the seized information relates to a new investigation; however, she is basing this assertion on a decision by Eastern District of Virginia U.S. Magistrate Judge William Fitzpatrick. Fitzpatrick issued a suppression-like decision even though suppression was not briefed by the parties — yet another example of blatant and unlawful judicial sabotage by partisans in robes.

Collar-Kotelly has ordered that a copy of the emails be given to Biden-appointed Judge Michael Nachmanoff, who is presiding over the Comey case in Virginia. This salvation of a copy of the emails, however, does not lessen the impact of Kollar-Kotelly’s horrible ruling. The FBI and the prosecution will be unable to review them in their efforts to seek a new indictment if Currie’s dismissal ruling survives on appeal. The statute-of-limitations law allows the government only six months after an indictment’s dismissal, suspended during the appellate process, to seek a new indictment. The inability to view this evidence would substantially increase the time necessary to seek an indictment.  Even if a higher court reverses Currie, the government’s inability to review the emails to use as evidence and prepare for trial would massively hamper its case.

Kollar-Kotelly’s decision is more disturbing because it implicates the separation of powers. Usually, Rule 41(g) comes into play where a defendant has had property wrongly seized, and he moves to reclaim it. Here, Comey is not seeking to reclaim anything; Richman, a then-government contractor with whom Comey communicated extensively about government business, is seeking this evidence. Richman has run to a partisan Democrat judge not even involved in the criminal case — and not even in the same district — to procure the destruction of crucial evidence in that case in an obvious effort to assist his friend Comey. Comey cannot challenge the warrant against Richman because he lacks standing to do so. Incredibly, Kollar-Kotelly suggested that Richman could move to quash this evidence in Virginia.  She’s going way out of her way to help Comey. Judges presiding over cases often have excluded evidence against defendants as having been obtained in violation of the Fourth Amendment. It is, however, extraordinary for a different judge — especially in a different district — to interfere in and dramatically hamper the prosecution’s case based on a claim by a third party of a wrongful search and seizure, especially when the evidence the government wishes to use consists of communications between that third party and the defendant — a defendant who was a senior government official.

The government obtained the evidence it wishes to use against Comey pursuant to a lawful warrant, even one signed by a highly partisan Obama-appointed judge. Now, a Clinton-appointed judge who is not presiding over the case — and is not even in the same district — is blatantly trying to aid Comey by preventing the government from using that evidence either to re-indict Comey or try him if the original indictment is reinstated. This ruling contravenes the normal way in which Rule 41(g) applies. The Clinton judge’s staggering timeline — destruction by tomorrow afternoon — also illustrates her agenda. She should have stayed a ruling of such magnitude to allow the appellate process to play out.  Instead, she has put the government in an incredibly precarious position: having to obtain a stay from either the D.C. Circuit or the Supreme Court in just a few hours. Kollar-Kotelly’s order had no legal basis, and a higher court must put a stop to it.

Kollar-Kotelly’s ruling is part of a larger pattern. Leftist judges like Obama-appointed D.C. Judge Tanya Chutkan — who presided over President Trump’s January 6-related case, Boasberg, who signed off on the national disgrace that was Operation Arctic Frost, and many other Democrat judges did nothing to stop and did much to escalate the lawfare waged against President Trump, his aides, and his allies. Now, the Justice Department is seeking legal accountability for lawfare perpetrators like Comey. Currie and Kollar-Kotelly have endeavored to prevent — or, at the very least, drastically decrease the chances of — such legal accountability. Courts do not order the FBI to destroy evidence in pending investigations, except when the evidence is harmful to a lawfare perpetrator like Comey. The inconsistency between the treatment afforded lawfare perpetrators and lawfare targets threatens the very legitimacy of the federal judiciary. If higher courts do not reign in these rogue judges, Congress must do so through oversight, withholding of funds from judicial appropriations, and impeachment.  A system where the judiciary enables lawfare and then shields its perpetrators from legal consequences is unsustainable, and higher courts must put a stop to it.

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China has spent decades building a land-based missile force designed to keep the United States out of a fight over Taiwan — and U.S. officials say it now threatens every major airfield, port and military installation across the Western Pacific.

As Washington races to build its own long-range fires, analysts warn that the land domain has become the most overlooked — and potentially decisive — part of the U.S.–China matchup. Interviews with military experts show a contest defined not by tanks or troop movements, but by missile ranges, base access and whether U.S. forces can survive the opening salvos of a war that may begin long before any aircraft take off.

‘The People’s Liberation Army Rocket Force … has built an increasing number of short-, medium-, and long-range missiles,’ Seth Jones of the Center for Strategic and International Studies told Fox News Digital. ‘They have the capability to shoot those across the first and increasingly the second island chains.’

For years, Chinese officials assumed they could not match the United States in air superiority. The Rocket Force became the workaround: massed, land-based firepower meant to shut down U.S. bases and keep American aircraft and ships outside the fight.

‘They didn’t think that they could gain air superiority in a straight-up air-to-air fight,’ said Eric Heginbotham, a research scientist at the Massachusetts Institute of Technology. ‘So you need another way to get missiles out — and that another way is by building a lot of ground launchers.’

The result is the world’s largest inventory of theater-range missiles, backed by hardened underground facilities, mobile launchers and rapid shoot-and-scoot tactics designed to overwhelm U.S. defenses.

Despite China’s numerical edge, American forces still hold advantages Beijing has not yet matched — particularly in targeting and survivability. 

U.S. missiles, from Tomahawks to SM-6s to future hypersonic weapons, are tied into a global surveillance network the People’s Liberation Army cannot yet replicate. American targeting relies on satellites, undersea sensors, stealth drones and joint command tools matured over decades of combat experience.

‘The Chinese have not fought a war since the 1970s,’ Jones said. ‘We see lots of challenges with their ability to conduct joint operations across different services.’ 

The U.S., by contrast, has built multi-domain task forces in the Pacific to integrate cyber, space, electronic warfare and precision fires — a level of coordination analysts say China has yet to demonstrate.

Jones said China’s defense industry also faces major hurdles. 

‘Most of (China’s defense firms) are state-owned enterprises,’ he said. ‘We see massive inefficiency, the quality of the systems … we see a lot of maintenance challenges.’

Still, the United States faces a near-term problem of its own: missile stockpiles.

‘We still right now … would run out (of long-range munitions) after roughly a week or so of conflict over, say, Taiwan,’ Jones said.

Washington is trying to close that gap by rapidly expanding production of ground-launched weapons. New Army systems — Typhon launchers, high mobility artillery rocket system, batteries, precision strike missiles and long-range hypersonic weapons with a range exceeding 2,500 kilometers — are designed to hold Chinese forces at risk from much farther away.

Heginbotham said the shift is finally happening at scale. 

‘We’re buying anti-ship missiles like there’s no tomorrow,’ he said.

If current plans hold, U.S. forces will field roughly 15,000 long-range anti-ship missiles by 2035, up from about 2,500 today.

China’s missile-heavy strategy is built to overwhelm U.S. bases early in a conflict. The United States, meanwhile, relies on layered air defenses: Patriot batteries to protect airfields and logistics hubs, terminal high altitude area defense (THAAD) interceptors to engage ballistic missiles at high altitude, and Aegis-equipped destroyers that can intercept missiles far from shore.

Heginbotham warned the U.S. will need to widen that defensive mix. 

‘We really need a lot more and greater variety of missile defenses and preferably cheaper missile defenses,’ he said.

One of Washington’s biggest advantages is its ability to conduct long-range strikes from beneath the ocean. U.S. submarines can fire cruise missiles from virtually anywhere in the Western Pacific, without relying on allied basing and without exposing launchers to Chinese fire — a degree of stealth China does not yet possess.

Command integration is another area where Beijing continues to struggle. American units routinely train in multi-domain operations that knit together air, sea, cyber, space and ground-based fires. 

Jones and Heginbotham both noted that the People’s Liberation Army has far less experience coordinating forces across services and continues to grapple with doctrinal and organizational problems, including the dual commander–political commissar structure inside its missile brigades.

Alliances may be the most consequential difference. Japan, the Philippines, Australia and South Korea provide depth, intelligence sharing, logistics hubs and potential launch points for U.S. forces. 

China has no comparable network of partners, leaving it to operate from a much narrower geographic footprint. In a missile war, accuracy, integration and survivability often matter more than sheer volume — and in those areas the United States still holds meaningful advantages.

At the heart of this competition is geography. Missiles matter less than the places they can be launched from, and China’s ability to project power beyond its coastline remains sharply constrained.

‘They’ve got big power-projection problems right now,’ Jones said. ‘They don’t have a lot of basing as you get outside of the first island chain.’

The United States faces its own version of that challenge. Long-range Army and Marine Corps fires require host-nation permission, turning diplomacy into a form of firepower. 

‘It’s absolutely central,’ Heginbotham said. ‘You do need regional basing.’

Recent U.S. agreements with the Philippines, along with expanded cooperation with Japan and Australia, reflect a push to position American launchers close enough to matter without permanently stationing large ground forces there.

A U.S.–China land conflict would not involve armored columns maneuvering for territory. The decisive question is whether missile units on both sides can fire, relocate and fire again before being targeted.

China has invested heavily in survivability, dispersing its brigades across underground bunkers, tunnels and hardened sites. Many can fire and relocate within minutes. Mobile launchers, decoys and deeply buried storage complexes make them difficult to neutralize.

U.S. launchers in the Pacific would face intense Chinese surveillance and long-range missile attacks. After two decades focused on counterterrorism, the Pentagon is now reinvesting in deception, mobility and hardened infrastructure — capabilities critical to surviving the opening stages of a missile war.

Any U.S. intervention in a Taiwan conflict would also force Washington to confront a politically charged question: whether to strike missile bases on the Chinese mainland. Doing so risks escalation; avoiding it carries operational costs.

‘Yes … you can defend Taiwan without striking bases inside China,’ Heginbotham said. ‘But you are giving away a significant advantage.’

Holding back may help prevent the conflict from widening, but it also allows China to keep firing. 

‘It’s a reality of conflict in the nuclear age that almost any conflict is gonna be limited in some ways,’ Heginbotham said. ‘Then the question becomes where those boundaries are drawn, can you prevent it from spreading? What trade-offs you’re willing to accept?’

A U.S.–China clash on land would not be fought by massed armies. It would be a missile war shaped by geography, alliances and survivability — a contest where political access and command integration matter as much as raw firepower.

For the United States, the challenge is clear: build enough long-range missiles, secure the basing needed to use them and keep launchers alive under fire. For China, the question is whether its vast missile arsenal and continental depth can offset weaknesses in coordination, command structure and real-world combat experience.

The side that can shoot, relocate and sustain fire the longest will control the land domain — and may shape the outcome of a war in the Pacific.

This is the third installment of a series comparing U.S. and Chinese military capabilities. Feel free to check out earlier stories comparing sea and air capabilities.

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