Latest news with #Bui
Yahoo
2 days ago
- Business
- Yahoo
Dire sign from Aldi ski sale
In what has been dubbed the latest recession indicator, a hugely popular shopping day has gone unsold, despite offering huge discounts on a number of products. Aldi's iconic annual ski gear sale was met with chaotic and crowded scenes, with customers lined up out the door before the supermarket chain even opened its doors. Inside, shoppers were seen urgently rifling through piles of ski jackets searching for their sizes. But in the weeks that followed, interest declined. Popular TikToker Bec Brewin highlighted that despite the buzz around Aldi's much loved sale, none of the items were actually sold out. 'Do you remember when the ski gear at Aldi used to sell out?,' she said. 'Well apparently this is the latest recession indicator because none of this has sold out and it's been there for a while.' 'I can't afford to go skiing and I certainly can't afford knee surgery after I fall over what would be the easiest run on the mountain.' Aldi has been contacted for comment. AMP economist My Bui told NewsWire the situation is consistent with the broader issues facing the Australian economy. 'This is playing out in Macroeconomic data. 'I looked at the NAB Business Sentiment Survey …. it shows conditions have still been deteriorating even when consumer confidence has been improving,' she said. Ms Bui's comments come after Australia's longest hit to living standards since the Second World War officially ended in March 2025, with households getting out of their per capita recession. But that doesn't mean households are spending, with Q1 retail sales figures released by the ABS showing retail volumes on a per capita basis fell 0.4 per cent after growth in the previous two quarters. Robert Ewing, ABS head of business statistics, said 'Retail sales volumes were flat this quarter and reflected subdued spending. This comes after sustained promotional activity boosted discretionary spending in late 2024.' Ms Bui agreed saying unlike the post covid years, businesses have less power to increase prices and have turned to promotions in order to clear stock. 'Retailers have less pricing power compared with before,' She said. 'Businesses had the power to raise prices. Right now, if you look at input costs and even when these costs increase, businesses do not feel they can raise their prices.' 'When you look at retail sales every single month there are more promotions than usual, but that is not a sign of strengthening as it is only driven by promotions, so it's actually a sign of weakness. Ms Bui said despite the overall outlook improving, it is coming off a relatively low base. The call comes just weeks after footage showed shoppers queuing up outside Aldi in Chatswood before opening to get ahead of the Snow Gear sale. The popular retailer has launched a premium range describing it as their 'coolest collection' to date, with more than 65 products under $100. 'We know our Aussie customers look forward to our annual Snow Gear Special Buys sale, and we're blown away by the overwhelming response by shoppers every year who line up before the store opens to get their hands on the range,' an Aldi spokesperson said at the time. 'The momentum we have seen over the last 20 years is reflective of the high quality and low price point Aldi's Snow Gear presents. 'Our customers continue to be excited about the release of the range each year, and we look forward to being part of their snow holiday plans with top quality gear at low prices in 2025.'
West Australian
2 days ago
- Business
- West Australian
‘Recession indicator': Grim call after Aussies turn their back on Aldi ski sale
In what has been dubbed the latest recession indicator, a hugely popular shopping day has gone unsold, despite offering huge discounts on a number of products. Aldi's iconic annual ski gear sale was met with chaotic and crowded scenes, with customers lined up out the door before the supermarket chain even opened its doors. Inside, shoppers were seen urgently rifling through piles of ski jackets searching for their sizes. But in the weeks that followed, interest declined. Popular TikToker Bec Brewin highlighted that despite the buzz around Aldi's much loved sale, none of the items were actually sold out. 'Do you remember when the ski gear at Aldi used to sell out?,' she said. 'Well apparently this is the latest recession indicator because none of this has sold out and it's been there for a while.' 'I can't afford to go skiing and I certainly can't afford knee surgery after I fall over what would be the easiest run on the mountain.' Aldi has been contacted for comment. AMP economist My Bui told NewsWire the situation is consistent with the broader issues facing the Australian economy. 'This is playing out in Macroeconomic data. 'I looked at the NAB Business Sentiment Survey …. it shows conditions have still been deteriorating even when consumer confidence has been improving,' she said. Ms Bui's comments come after Australia's longest hit to living standards since the Second World War officially ended in March 2025, with households getting out of their per capita recession. Mortgage holders might be on average $200 better off a month but businesses say they are still feeling the brunt of cost-of-living pressures. But that doesn't mean households are spending, with Q1 retail sales figures released by the ABS showing retail volumes on a per capita basis fell 0.4 per cent after growth in the previous two quarters. Robert Ewing, ABS head of business statistics, said 'Retail sales volumes were flat this quarter and reflected subdued spending. This comes after sustained promotional activity boosted discretionary spending in late 2024.' Ms Bui agreed saying unlike the post covid years, businesses have less power to increase prices and have turned to promotions in order to clear stock. 'Retailers have less pricing power compared with before,' She said. 'Businesses had the power to raise prices. Right now, if you look at input costs and even when these costs increase, businesses do not feel they can raise their prices.' 'When you look at retail sales every single month there are more promotions than usual, but that is not a sign of strengthening as it is only driven by promotions, so it's actually a sign of weakness. Ms Bui said despite the overall outlook improving, it is coming off a relatively low base. The call comes just weeks after footage showed shoppers queuing up outside Aldi in Chatswood before opening to get ahead of the Snow Gear sale. The popular retailer has launched a premium range describing it as their 'coolest collection' to date, with more than 65 products under $100. 'We know our Aussie customers look forward to our annual Snow Gear Special Buys sale, and we're blown away by the overwhelming response by shoppers every year who line up before the store opens to get their hands on the range,' an Aldi spokesperson said at the time. 'The momentum we have seen over the last 20 years is reflective of the high quality and low price point Aldi's Snow Gear presents. 'Our customers continue to be excited about the release of the range each year, and we look forward to being part of their snow holiday plans with top quality gear at low prices in 2025.'
Perth Now
2 days ago
- Business
- Perth Now
Dire sign from Aldi ski sale
In what has been dubbed the latest recession indicator, a hugely popular shopping day has gone unsold, despite offering huge discounts on a number of products. Aldi's iconic annual ski gear sale was met with chaotic and crowded scenes, with customers lined up out the door before the supermarket chain even opened its doors. Inside, shoppers were seen urgently rifling through piles of ski jackets searching for their sizes. But in the weeks that followed, interest declined. Popular TikToker Bec Brewin highlighted that despite the buzz around Aldi's much loved sale, none of the items were actually sold out. Aldi's popular ski sale was not a sellout this year, which one TikTokker has claimed is 'the latest recession' indicator. NewsWire / Monique Harmer Credit: News Corp Australia 'Do you remember when the ski gear at Aldi used to sell out?,' she said. 'Well apparently this is the latest recession indicator because none of this has sold out and it's been there for a while.' 'I can't afford to go skiing and I certainly can't afford knee surgery after I fall over what would be the easiest run on the mountain.' Aldi has been contacted for comment. AMP economist My Bui told NewsWire the situation is consistent with the broader issues facing the Australian economy. 'This is playing out in Macroeconomic data. 'I looked at the NAB Business Sentiment Survey …. it shows conditions have still been deteriorating even when consumer confidence has been improving,' she said. Ms Bui's comments come after Australia's longest hit to living standards since the Second World War officially ended in March 2025, with households getting out of their per capita recession. Mortgage holders might be on average $200 better off a month but businesses say they are still feeling the brunt of cost-of-living pressures. But that doesn't mean households are spending, with Q1 retail sales figures released by the ABS showing retail volumes on a per capita basis fell 0.4 per cent after growth in the previous two quarters. Robert Ewing, ABS head of business statistics, said 'Retail sales volumes were flat this quarter and reflected subdued spending. This comes after sustained promotional activity boosted discretionary spending in late 2024.' Ms Bui agreed saying unlike the post covid years, businesses have less power to increase prices and have turned to promotions in order to clear stock. 'Retailers have less pricing power compared with before,' She said. 'Businesses had the power to raise prices. Right now, if you look at input costs and even when these costs increase, businesses do not feel they can raise their prices.' 'When you look at retail sales every single month there are more promotions than usual, but that is not a sign of strengthening as it is only driven by promotions, so it's actually a sign of weakness. ALDI ski sale at Chatswood. NewsWire / Monique Harmer Credit: News Corp Australia The store was crowded when doors opened, but interest has since declined. NewsWire / Monique Harmer Credit: News Corp Australia Ms Bui said despite the overall outlook improving, it is coming off a relatively low base. The call comes just weeks after footage showed shoppers queuing up outside Aldi in Chatswood before opening to get ahead of the Snow Gear sale. The popular retailer has launched a premium range describing it as their 'coolest collection' to date, with more than 65 products under $100. 'We know our Aussie customers look forward to our annual Snow Gear Special Buys sale, and we're blown away by the overwhelming response by shoppers every year who line up before the store opens to get their hands on the range,' an Aldi spokesperson said at the time. 'The momentum we have seen over the last 20 years is reflective of the high quality and low price point Aldi's Snow Gear presents. 'Our customers continue to be excited about the release of the range each year, and we look forward to being part of their snow holiday plans with top quality gear at low prices in 2025.'
Borneo Post
16-05-2025
- Borneo Post
Lack of evidence sees Vietnamese woman in Kuching freed of drug trafficking charge
According to the charge, Bui allegedly trafficked 2,496.10g of ecstasy in a condominium unit at Taman BDC here at around 2.40pm on March 20. – Photo by Chimon Upon KUCHING (May 16): The Magistrates' Court here today discharged and acquitted a Vietnamese woman from a charge of trafficking 2.5kg ecstasy in March this year. Magistrate Mason Jaro Lenya Barayan made the ruling after the prosecuting officer informed the court that there was insufficient evidence to proceed with the prosecution against Bui Cuc Nuong, 35. Bui had been charged under Section 39B(1)(a) of the Dangerous Drugs Act 1952, punishable under Section 39B(2) of the same Act, which carries the death penalty or life imprisonment, and if not sentenced to death, is liable to not less than 15 strokes of the cane, upon conviction. According to the charge, she allegedly trafficked 2,496.10g of ecstasy in a condominium unit at Taman BDC here at around 2.40pm on March 20. It was understood that the accused had initially been charged in the Magistrates' Court without a plea being recorded, and had been awaiting a further mention date pending a chemist report. Bui was represented by counsel Wilson Tan. acquitted discharged drug trafficking Kuching lack of evidence vietnamese
Yahoo
15-05-2025
- Business
- Yahoo
Georgia attorney sentenced to 16 months for role in $1.3B tax fraud scheme
The Brief Vi Bui, a Georgia attorney, was sentenced to 16 months in prison for obstructing the IRS in a tax fraud scheme involving over $1.3 billion in fraudulent deductions. The scheme involved creating partnerships to claim inflated tax deductions through fraudulent appraisals of conservation easements, benefiting wealthy clients. Bui was ordered to pay $8.25 million in restitution and serve one year of supervised release following his prison sentence. ATLANTA - A Georgia attorney was sentenced Wednesday to 16 months in prison for obstructing the IRS in connection with a sprawling tax fraud scheme involving more than $1.3 billion in fraudulent deductions from abusive syndicated conservation easement shelters. What we know Vi Bui, an attorney and partner at the Atlanta-based firm Sinnott & Co., played a key role in the operation, which spanned from at least 2012 through May 2020, according to court records. Federal prosecutors say Bui and others organized, marketed, and sold illegal tax shelters designed to exploit conservation easement deductions. The scheme involved creating partnerships that acquired land or companies holding land. These partnerships would then donate conservation easements or the land itself to claim inflated charitable contribution tax deductions based on fraudulent appraisals. Wealthy clients who purchased units in the partnerships used those inflated deductions to reduce their taxes—often joining the shelters after the donation date and after the relevant tax year had ended. The backstory To make the transactions appear legitimate, prosecutors said Bui and his co-conspirators—including Jack Fisher and James Sinnott, who were sentenced earlier this year to 25 and 23 years in prison, respectively—backdated documents and fabricated records, including subscription agreements and checks. They also staged sham votes and produced falsified paperwork to disguise the true nature of the transactions. In one 2018 undercover operation, Bui created false documents for a 2014 transaction in an attempt to make it seem as though the paperwork had been executed before the donation and before the filing of that year's tax returns. Bui personally profited from the scheme and used the fraudulent deductions to avoid paying his own taxes, filing false personal returns from 2013 to 2018. What's next Along with his prison sentence, Chief U.S. District Judge Timothy C. Batten Sr. of the Northern District of Georgia ordered Bui to pay $8.25 million in restitution to the IRS and serve one year of supervised release. The Source The U.S. Attorney's Office for the Northern District of Georgia provided the details and image for this article.
