New Vietnamese bank to launch in Houston
USV Bancorp is in the final stages of raising capital to support its acquisition of a rural Texas bank to launch the first-ever Vietnamese-owned bank in Houston and second nationwide.
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Business Journals
25 minutes ago
- Business Journals
Daily Digest: End of an era at Fisherman's Wharf, Scale AI eyes record funding from Meta
Happy Monday, Bay Area. Tensions remain high in Los Angeles as protests against Immigration and Customs Enforcement took over the city this weekend, with demonstrators clashing with law enforcement as President Trump deployed 2,000 members of the National Guard to "address the lawlessness." The state of California will file a lawsuit on Monday challenging President Trump's use of the National Guard, Gov. Gavin Newsom stated on social media. Trump suggested Newsom should be arrested over his response. Protests also broke out in downtown San Francisco on Sunday with 60 arrests made, the Chronicle reports. Meanwhile in transportation, Alphabet-owned Waymo has suspended service of its ride-hailing service in downtown Los Angeles after some of its vehicles were set on fire during protests. Closer to home here in the city, S.F.'s first all-women's sports bar — Rikki's — is opening on Wednesday at 2223 Market St., an upper Market location that has seen a number of short-lived concepts over the past few years. And finally, the San Francisco-Marin Food Bank has announced the closure of all its farmers market-style pantries by June 30, as well as reductions to its home delivery service and staff. ABC7 also reports that 13 pantries closed for good Friday after the money ran out. Here's the rest of the local business news to start your week. GET TO KNOW YOUR CITY Find Local Events Near You Connect with a community of local professionals. Explore All Events Alioto's to be torn down at Fisherman's Wharf Alioto's Restaurant, the longtime waterfront seafood spot at Fisherman's Wharf that closed down in 2020, will be demolished and replaced by a new public plaza as part of a $10 million plan by the Port of San Francisco to reimagine the historic heart of Fisherman's Wharf, the Chronicle reports. Knocking down Alioto's and building a plaza are at the heart of a package of wharf upgrades, of which the port expects to complete the first phase by next year. expand The three-story, 11,000-square-foot Alioto's structure at Fisherman's Wharf will be torn down. Todd Johnson | San Francisco Business Times Business owners expect disruptions as wine and spirits distributor pulls out of California One of the nation's largest wine and spirits distributors recently announced it's pulling out of California, a move expected disrupt restaurant and bar operators and retailers statewide. Republic National Distributing Company, which operates in 39 states across the U.S., announced last week that it will exit the California market, effective Sept. 2, the Sacramento Business Journal reports. RNDC's remaining portfolio of wine and spirit brands will now be on the hunt for new distributors in California in order for their products to remain on shelves and in bars, according to local business leaders. Wild pigs are going hog wild in Santa Clara. Now authorities are going "Full Boar" Wild pigs are on the rise in Santa Clara County and have led to an uptick in property damage. As a result, the Santa Clara Valley Open Space Authority, an agency in San Jose that has preserved 30,000 acres of land as outdoor public space, last month approved spending $243,000 to hire a contractor, Full Boar Trapping and Wildlife Control, based in Contra Costa County, to trap and shoot wild pigs over the next three years on its properties, the Mercury News reports. The report states that Russian boars were first introduced to the region in 1924 when eccentric Canadian millionaire George Gordon Moore purchased Rancho San Carlos, a 22,000-acre ranch in Carmel Valley. Some escaped and bred with the local pigs first brought by the Spanish in 1769. The pigs grow sharp tusks, weigh 250 pounds or more and have been known to attack hikers. Sign up for the Business Times' free morning and afternoon daily newsletters to receive the latest business news driving change in San Francisco. Download the free San Francisco Business Times app for breaking news alerts on your phone. People on the Move The National Venture Capital Association has named Vineeta Agarwala, general partner at A16z, as chair of the NVCA board of directors. In addition, Alex Doll of Ten Eleven Ventures has joined the NVCA board of directors. Mobilicom Limited (Nasdaq: MOB), a Palo Alto-based provider of cybersecurity and solutions for drones and robotics, named Guy Givoni to its board of directors. Givoni previously served on Mobilicom's advisory board from 2017 through 2023. Funding Watch San Francisco-based Scale AI is in talks to raise more than $10 billion from Meta, Bloomberg reports. The financing could exceed $10 billion in value, anonymous sources said, making it one of the largest private funding events of all time. The terms of the deal are not finalized and could still change and representatives for Scale AI and Meta declined to comment. The startup was last valued at about $14 billion in 2024, in a funding round that included backing from Meta and Microsoft. expand Alexandr Wang, co-founder and CEO of Scale AI David Paul Morris/Bloomberg via Getty Images IPO Watch In case you missed it, check out these seven questions Senior Reporter Ron Leuty last week got to ask Sean Duffy, the CEO of newly public Omada Health. Final thought … Sometimes it's the small things that people in industry do that have the biggest impact. For example, making the home computer user-friendly. That was the genius of Bill Atkinson, the Apple designer who created the software pioneered by the company's Lisa and Macintosh computers that made the machines accessible to millions of users without specialized skills, the New York Times reports. RIP to Atkinson, who died on Thursday at his home in Portola Valley at the age of 74. DOWNLOAD the free SFBT app for breaking news alerts on your phone.
Yahoo
2 hours ago
- Yahoo
Ongoing cyberattack at US grocery distributor giant UNFI affecting customer orders
U.S. grocery distribution giant United Natural Foods (UNFI) said on Tuesday it is working to restore its capabilities following a cyberattack last week that continues to disrupt the grocery supply chain. UNFI said as part of its third quarter earnings report that it was "diligently managing through the cyber incident' it confirmed on Monday. The company is "helping our customers with short-term solutions wherever possible," said UNFI chief executive Sandy Douglas in prepared remarks. On the company's post-results conference call, Douglas said UNFI is "continuing to safely bring our systems back online and restore broad-based customer service as soon as possible." The company, which is the primary distributor for Amazon-owned Whole Foods, and supplies over 250,000 grocery store products including frozen goods, disclosed on Monday that it had identified unauthorized access to its IT systems. Douglas said on its call Tuesday that the company has since shut down its entire network. The company has not described the nature of the cyberattack, but it said the intrusion was causing ongoing disruptions to its operations, including its ability to fulfill and distribute customer orders. Douglas told investors on the call that the company was shipping to customers "on a limited basis." One customer of UNFI told TechCrunch that they are trialing a new product in Whole Foods stores this week, but said much of their supply had not been delivered. The customer said they have heard nothing from either UNFI or Whole Foods about the disruption. TechCrunch has heard anecdotal reports of diminished or empty shelves at some stores affected by the disruption at UNFI, but it is not immediately clear if this is due to the cyberattack or other supply chain issues. Much of the downstream real-world impact on grocery stores and their customers may not be seen until later this week. Whole Foods has not returned a request for comment from TechCrunch. Reuters cited a Whole Foods spokesperson as saying that the retail giant was 'working to restock our shelves as quickly as possible' and referred additional questions back to UNFI. It's not clear how much UNFI has spent on cybersecurity, nor who is ultimately responsible for cybersecurity at the company. A spokesperson for UNFI did not respond to a request for comment when contacted by TechCrunch on Tuesday. Much of the UNFI's external-facing systems are offline, including web systems used by suppliers and customers, as well as the company's VPN products, according to checks by TechCrunch. UNFI reported $8.1 billion in net sales in the quarter ended May 3, 2025. The company said it was expecting to report a loss on net income and earnings per share for its 2025 outlook following the ending of a contract with a grocery store chain's operations in the U.S. northeast, but that it is not adjusting its outlook at this time due to the "ongoing assessment" of the cyberattack. Error in retrieving data Sign in to access your portfolio Error in retrieving data
TechCrunch
2 hours ago
- TechCrunch
Ongoing cyberattack at US grocery distributor giant UNFI affecting customer orders
U.S. grocery distribution giant United Natural Foods (UNFI) said on Tuesday it is working to restore its capabilities following a cyberattack last week that continues to disrupt the grocery supply chain. UNFI said as part of its third quarter earnings report that it was 'diligently managing through the cyber incident' it confirmed on Monday. The company is 'helping our customers with short-term solutions wherever possible,' said UNFI chief executive Sandy Douglas in prepared remarks. On the company's post-results conference call, Douglas said UNFI is 'continuing to safely bring our systems back online and restore broad-based customer service as soon as possible.' The company, which is the primary distributor for Amazon-owned Whole Foods, and supplies over 250,000 grocery store products including frozen goods, disclosed on Monday that it had identified unauthorized access to its IT systems. Douglas said on its call Tuesday that the company has since shut down its entire network. The company has not described the nature of the cyberattack, but it said the intrusion was causing ongoing disruptions to its operations, including its ability to fulfill and distribute customer orders. Douglas told investors on the call that the company was shipping to customers 'on a limited basis.' One customer of UNFI told TechCrunch that they are trialing a new product in Whole Foods stores this week, but said much of their supply had not been delivered. The customer said they have heard nothing from either UNFI or Whole Foods about the disruption. TechCrunch has heard anecdotal reports of diminished or empty shelves at some stores affected by the disruption at UNFI, but it is not immediately clear if this is due to the cyberattack or other supply chain issues. Much of the downstream real-world impact on grocery stores and their customers may not be seen until later this week. Whole Foods has not returned a request for comment from TechCrunch. Reuters cited a Whole Foods spokesperson as saying that the retail giant was 'working to restock our shelves as quickly as possible' and referred additional questions back to UNFI. It's not clear how much UNFI has spent on cybersecurity, nor who is ultimately responsible for cybersecurity at the company. A spokesperson for UNFI did not respond to a request for comment when contacted by TechCrunch on Tuesday. Much of the UNFI's external-facing systems are offline, including web systems used by suppliers and customers, as well as the company's VPN products, according to checks by TechCrunch. UNFI reported $8.1 billion in net sales in the quarter ended May 3, 2025. The company said it was expecting to report a loss on net income and earnings per share for its 2025 outlook following the ending of a contract with a grocery store chain's operations in the U.S. northeast, but that it is not adjusting its outlook at this time due to the 'ongoing assessment' of the cyberattack.
