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SEOUL, April 1 (UPI) — South Korean discount chain Home Plus said Tuesday that a court has begun to review the sale of its neighborhood grocery store chain, Home Plus Express.

Home Plus, which is under receivership, said the court started the procedure of selecting a preferred bidder after receiving reports from its sales adviser, Samil PricewaterhouseCoopers.

“Prior to the March 31 deadline, multiple companies were confirmed to have participated in the bidding process to acquire Home Plus Express,” the firm said in a statement.

Home Plus did not disclose further details, including the number of bidders and their identities.

However, Mega MGC Coffee has reportedly presented a bid for Home Plus Express. The budget coffee chain, which is owned by MGC Global, operates nearly 4,000 stores across South Korea.

Both MGC Global and Home Plus declined to confirm the reports.

Following unsuccessful attempts to sell Home Plus as a single entity, the divestment of Home Plus Express has emerged as a key pillar of its rehabilitation plan. The unit generated $730 million in revenue in 2024.

The Express division has a network of almost 300 stores and most of them are located in high-density urban areas. Home Plus also runs more than 100 large-format outlets.

In 2015, South Korea’s leading private equity fund, MBK Partners, purchased Home Plus from Tesco in a landmark $5 billion deal. In recent years, the retailer has struggled amid pandemic-related disruptions and the rise of e-commerce giants.

Since early last year, MBK Partners has tried to dispose of Home Plus to little avail. As a result, the company has shifted its focus to the sale of Home Plus Express.

VAN NUYS — It was a showdown between quake-weary homeowners and the insurance companies they are still battling six months later.

More than 300 people turned out for the confrontation Wednesday night, filling an auditorium at Birmingham High School in Van Nuys for a hearing presided over by state Sen. Art Torres (D-Los Angeles), chairman of the Senate insurance committee and the Democratic nominee for insurance commissioner in the November election.

Besides disgruntled victims of the Northridge quake, the speakers included representatives of State Farm, the state’s largest carrier with 20% of the homeowners market, and No. 3 Farmers Insurance Group.

Nettie Hoge, head of consumer services for the California Department of Insurance, also participated in the often heated town hall meeting that Torres conducted as an official hearing of the insurance committee.

Hoge told the crowd that state Insurance Commissioner John Garamendi had persuaded Woodland Hills-based 20th Century Insurance Co. to restore homeowners coverage to about 14 of its customers whose policies the company recently canceled.

20th Century received so many quake claims that the state insurance department granted the company special permission to get out of the homeowners coverage business. One of the conditions, however, was that the company offer its customers two more annual renewals. Some of its policyholders have complained recently that the company was seizing on technical excuses to refuse immediately to renew their policies.

Many people in the audience brandished signs such as “Boycott 20th Century” and “20th Century, What Did You Do With Our Premiums?”

Torres said 20th Century was invited to send a speaker to the meeting, but declined. However, when Torres asked if anyone from 20th Century was in the audience, two people raised their hands. Rick Dinon, a senior vice president, said the executives were there because they hoped to “correct some misinterpretations of the company’s actions, motives and finances.”

“It hurts,” Dinon said of the homemade signs criticizing the company. “We hope we have the respect of our customers and we most assuredly respect them.

“It hurts a lot to be placed in an adversarial relationship with our customers. It is disappointing we can’t continue to offer them the kind of protection we have in the past.”

When an earthquake hits, “much of the suffering is from the reprehensible conduct of the insurance industry adjusting the earthquake loss,” said George Kehrer, executive director of Community Assistance Recovery, or CARE, a Northridge-based consumer group he said represents more than 5,000 property owners.

“Adjusters swarm into the state like killer bees,” Kehrer said, drawing a standing ovation.

Torres told the group that many of the complaints he has received have come from people who fear their company will abandon them. But he noted that Garamendi is proposing a statewide insurance industry pool as well as supporting proposals for national disaster insurance.

“It’s hard to be patient,” he said. “People in northern California are still dealing with insurance companies from the Loma Prieta quake” in October, 1989.

Bill Gausewitz, of Farmer’s Insurance, said his company had resolved 27,241 quake-related claims, about 90% of those it had received. Of those, 7,877 were dismissed without payment and the others received compensation, he said.

Torres asked Gausewitz if Farmers had received complaints that it refused to pay the true cost of earthquake repairs.

“Not that I know of,” Gausewitz replied, drawing hoots and jeers from the audience.

Hoge said the insurance department has received complaints of low payments by virtually all insurance companies hit by Northridge quake claims.

Torres, whose committee is wrestling with many quake-caused problems, including a growing homeowners coverage crisis, said he arranged the meeting to give angry quake victims a chance to air their grievances.

Disillusioned policyholders have inundated his Los Angeles and Sacramento offices with complaints, he said, ranging from switching adjusters in the middle of the claims process to “low-ball” offers to settle to delays receiving payoff checks. Some accused their insurance carriers of breaking promises or lying to avoid paying claims.

The makers of the Ukrainian Sting interceptor drone told The War Zone that despite growing interest in the Middle East for their product, they are not yet allowed to sell them outside the country. Other Ukrainian drone manufacturers, like SkyFall, are also reportedly interested in providing interceptors to the region.

In Ukraine, the small drones have proven to be a far cheaper alternative to munitions like Patriot interceptors and even far less advanced missiles for downing Shahed drones which have caused widespread destruction across Ukraine. Since the launch of Operation Epic Fury, that country has been firing Shaheds across the U.S. Central Command area of responsibility (AOR). That includes a March 1 strike on Kuwait that killed six U.S. Army soldiers.

“Our priority is Ukraine’s defense,” Wild Hornets spokesman Alex Roslin told us on Thursday. “Exports of drones are not permitted at this time.”

Відео 100 збиттів шахедів перехоплювачем #STING #wildhornets #дикішершні #fpv

However, “the Ukrainian government is engaged in bilateral discussions with partner countries about supplying drones,” he added. 

Should the law change, Wild Hornets has the capacity to provide drones to foreign nations, Roslin explained.

“As part of those discussions, the Wild Hornets are ready to fulfill whatever need may fall on us to help Ukraine’s strategic partners if called on to do so.”

There seems to be a willingness to make key changes to the law to make it happen. Ukrainian President Volodymyr Zelensky stated that Ukrainian military experts were in the Middle East to share their experience after four years of bombardment by Russian Shaheds and that 11 nations are interested in obtaining these interceptors and other counter-drone systems.

It is no surprise that there would be wide interest in counter-drone drones. With a price tag of roughly between $1,000 and $2,500 a piece, they are a small fraction of the cost of the multi-million dollar Patriot interceptors or even less expensive types, still costing a million dollars or more, being used by the U.S. and allies.

Beyond cost, the interceptor drones, 3-D printed weapons that look like 1950’s-era toy rockets, are far easier and quicker to produce than surface-to-air missiles.

Small enough to fit inside a backpack, they can reach speeds of up to 173 miles an hour, according to Wild Hornets. Some of Ukraine’s interceptors “combine thermal imaging with radar tracking and AI-assisted guidance, with a human operator taking manual control for the final seconds of the intercept,” Military Times noted. Sting interceptors are manually operated by pilots, Roslin stated.

In a post on X, Wild Hornets denied it was in direct negotiations with Saudi Arabia to sell the Sting drones, a claim made Thursday by The Wall Street Journal.

“Recent reporting by The Wall Street Journal, citing anonymous sources, suggested that Saudi Aramco, the world’s largest oil company, is in negotiations with Wild Hornets regarding the purchase of interceptor drones to protect oil facilities from Iranian UAV attacks. This information does not reflect the current position or activities of our company. “

Wild Hornets “regularly receives inquiries from representatives of countries across the Middle East and the European Union regarding potential exports of the STING interceptor system, which has proven highly effective against Shahed-type drones in real combat conditions,” the X post continued.

Wild Hornets is reportedly one of at least two Ukrainian companies whose interceptors are garnering interest in the Middle East in the wake of Iranian Shahed attacks.

Earlier this week, another large Ukrainian drone producer called SkyFall said its manufacturing capacity ​had outgrown Ukraine’s ability to purchase its systems and the company was ready to export, according to Reuters.

“We have had interest and inquiries from our (allies) and countries in the Middle East,” a company representative told the outlet.

While these small drone interceptors have proven successful in Ukraine and show real promise for applications elsewhere, their baseline capabilities are quite different from an actual surface to air missile, especially medium and long-range types. They have to be distributed far more broadly in order to be able to effectively respond to incoming drone threats, whereas a SAM can cover a much larger area and respond far quicker to the threat due to their high-speeds.

The lack of response speed also means that early warning is more critical, especially for area defense duties, as opposed to defending a specific facility or small area of a population center. Regardless, their cost differential and ease of deployment can overcome many of these drawbacks, especially when paired with tailored tactics, in order to get the price of interceptors far down and putting more defenses in more areas.

There are other inexpensive alternatives to costly interceptors that have taken center stage in conflicts as of late.

As we have previously noted, air-to-air optimized versions of the 70mm Advanced Precision Kill Weapon System II (APKWS II) have become a principal air-to-air counter-drone weapon for U.S. forces, which began using the rockets in this way on F-16 Vipers back in 2024. That capability was extended to the F-15E Strike Eagle and A-10 Warthog and soon to the U.S. Marine Corps legacy F/A-18C/D Hornet.

The U.S. also has a ground-based system, called Vampire, that also uses these APKWS rockets. This system is deployed in small numbers to the Middle East and in larger numbers to Ukraine.

In addition, the U.S. reportedly sent 10,000 interceptor drones used in Ukraine to the Middle East.

Known as Merops, the system flies drones against drones, The Associated Press explained.

“It is small enough to fit in the back of a midsize pickup truck, can identify drones and close in on them, using artificial intelligence to navigate when satellite and electronic communications are jammed,” according to the wire service.

Last week, we asked Adm. Brad Cooper, commander of U.S. Central Command, about Ukrainian interceptors.

“I’m not familiar with the particular offer, but the interceptors in general, we’ve had a number of new capabilities being fielded,” Cooper told us during a press conference held at CENTCOM headquarters in Tampa. “Obviously, I’m not going to talk about it from the operational perspective of what those are, but I think you have seen over a period of time us kind of get on the other side of this cost curve on drones in general.”

“If I just walk back a couple of years, remember what you used to always hear, we’re shooting down a $50,000 drone with a $2 million missile,” he added. “These days, we’re spending a lot of time shooting down $100,000 drones with $10,000” weapons.

Meanwhile, President Donald Trump has dismissed the need for Ukrainian help in combating Iranian drones and War Secretary Pete Hegseth on Friday downplayed the threat from Iranian drones and missiles. He proclaimed that one of Epic Fury’s main goals is diminishing Iran’s capacity to launch and build these weapons.

“Their missile launchers and drones being destroyed or shot out of the sky,” he told reporters, including from The War Zone. “Their missile volume is down 90%. Their one way attack drones yesterday down 95%.”

Hegseth: Iran has no real air defenses, air force, or navy left. Their missiles, launchers, and drones are being destroyed.

Missile attacks are down about 90%, and one-way attack drones dropped about 95%.

2/ pic.twitter.com/pyai9V2bNC

— Tymofiy Mylovanov (@Mylovanov) March 13, 2026

Still, the interest in the Middle East for Ukrainian drone interceptors remains high.

“This phone has been ringing off the hook,” Oleg Rogynskyy, the chief executive of Uforce, a conglomerate of Ukrainian defense technology start-ups, told The New York Times.

Contact the author: howard@thewarzone.com

The index provider reviews the S&P 500 every quarter using rigorous criteria on market capitalisation, profitability, liquidity and sector balance to ensure it reflects the largest and most representative top 500 US companies.

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The latest update will bring Vertiv Holdings, Lumentum Holdings, Coherent Corp. and EchoStar Corporation into the index.

They replace Match Group, Molina Healthcare, Lamb Weston Holdings and Paycom Software, with the changes taking effect before the market opens on Monday 23 March.

With trillions of dollars in assets tracking the S&P 500, the rebalance typically prompts buying from passive funds, often providing a short-term lift to new members.

Shortly after the S&P Global announcement, on Friday 6 March, all four companies’ shares rose on average 8% as investors began anticipating the increased flow.

Three out of the four incoming firms supply critical infrastructure for the AI boom, from power and cooling systems to high-speed optical components.

According to S&P Global, the changes show how sustained AI investment has become a structural force in the market, to the point that it is reshaping the index composition.

Big Tech is guiding for roughly €600bn in AI spending this year alone.

Vertiv

Vertiv Holdings specialises in critical digital infrastructure, offering power management, thermal management and modular systems that support high-density computing in data centres.

The company has seen explosive demand for liquid cooling and high-power solutions as AI workloads drive energy consumption far beyond conventional levels.

According to Vertiv’s fourth quarter 2025 earnings, released in February, organic orders grew 252% year-on-year in the final quarter, pushing its backlog to $15bn (€13bn) –– a 109% rise from the previous year.

The book-to-bill ratio reached approximately 2.9 times and full-year 2026 guidance points to organic sales growth of 27% to 29%, indicating very strong requisition.

The firm’s strong performance reflects its central role in enabling the hyperscalers’ expansion of AI infrastructure.

Inclusion in the S&P 500 is expected to increase visibility and liquidity through passive fund inflows. This milestone underscores Vertiv’s evolution into a key enabler of the physical infrastructure powering AI growth.

Lumentum

Lumentum Holdings develops advanced optical components, lasers and transceivers that deliver the ultra-high-speed connectivity required inside data centres and across communications networks.

Its products are essential for handling the massive bandwidth demands of AI model training and inference.

In early March, Nvidia announced a multi-year strategic partnership with Lumentum that includes a $2bn (€1.7bn) investment to expand capacity, advance US-based manufacturing and deepen research and development collaborations.

This partnership came alongside multibillion-dollar purchase commitments for advanced laser components.

The S&P 500 addition elevates the profile of optical technologies as a foundational layer in next-generation AI infrastructure.

For Lumentum, the move reinforces its position as a critical supplier in the race to scale AI systems efficiently and at unprecedented speeds.

Coherent

Coherent Corp. focuses on photonics and laser technologies, with a strong emphasis on silicon photonics and high-speed optical interconnects designed for large-scale AI computing clusters.

The company has repositioned its portfolio to tackle latency and power-efficiency challenges in hyperscale environments.

Similar to Lumentum, the company recently disclosed a parallel strategic partnership with Nvidia, also including a $2bn (€1.7bn) investment and multibillion-dollar purchase commitments for advanced optics.

The collaboration targets technologies vital for future data centre architectures and supports expanding US manufacturing.

The S&P 500 inclusion recognises Coherent’s transformation and the structural demand from global AI build-outs.

Greater institutional interest and enhanced liquidity are widely expected once the rebalance takes effect. This development cements the company’s role as an indispensable partner in the infrastructure underpinning rapid advances in AI.

EchoStar

EchoStar Corporation is the outlier of the group as it is the only company being added to the S&P 500 that is not directly tied to the expansion of AI infrastructure.

The firm delivers satellite communications, video entertainment and broadband services, primarily through its DISH network operations.

The addition brings dedicated exposure to the communications sector, balancing the heavy tilt toward AI infrastructure providers in this quarterly update.

In line with its fellow entrants, EchoStar has delivered triple-digit gains over the past year, reflecting resilience in the telecom space amid broader technology shifts.

The move complements the data centre focus of the other new companies and underscores how communications continues to shape the composition of the US’ flagship equity index.

The quarterly adjustments follow a pattern of the S&P 500 evolving alongside technological shifts. While passive inflows deliver an immediate boost, the longer-term impact lies in better alignment with the sectors driving the modern economy.