Americans Are Panic Buying Toilet Paper Again And F1 Teams Up With LV

It's October 3, and today in history is packed with milestones! We're talking the German Unification Treaty sealing the deal, the first-ever long-distance road trip in a gasoline-powered car (who knew driving could be so historic?), and the legendary premieres of TV classics "I Love Lucy" and "The Twilight Zone."

> Formula One, owned by Liberty Media, and luxury brand LVMH have announced a 10-year partnership starting with the next F1 season. The collaboration will focus on bespoke experiences, limited editions, and premium content, with LVMH brands like Louis Vuitton and TAG Heuer involved. This partnership builds on a previous collaboration during the 2023 Las Vegas Grand Prix. Both companies aim to elevate their global presence through this strategic alliance, although financial details have not been disclosed. More updates on the partnership are expected in 2025.

> Dockworkers at U.S. ports from Maine to Texas have gone on strike for the first time in nearly 50 years, demanding better wages and protesting automation. The strike, affecting about half of the country's imports, poses significant challenges for small businesses, especially those with tight cash flow and inventory. Business owners like Nicole Tomaszewski and Paulina Nava worry about product shortages, potential price hikes, and missed deadlines, which could lead to devastating financial consequences. The strike could further exacerbate supply chain disruptions and impact inflation.

> Toilet paper shortages in the U.S. have sparked panic buying, reminiscent of the pandemic, despite being unrelated to the ongoing port strike. Over 90% of U.S. toilet paper comes from domestic factories, with the rest arriving from Canada and Mexico via truck or rail, not ships. The port strike could affect imports of perishable goods like bananas, but it won’t impact toilet paper supply. Nonetheless, the psychological effect of potential shortages has led to empty shelves in some stores, with social media amplifying the panic.

To start an Airbnb management business, research furnished rental properties in desirable locations and compare their potential earnings on Airbnb versus traditional rentals. Create a detailed cash flow projection considering expenses like property taxes, insurance, and utilities, and compare projected rental income based on local events and demand fluctuations. Approach property owners, show them your projections, and propose managing their homes for short-term rentals with a profit-sharing agreement. As you collect data and build a track record, expand by managing more properties, and eventually invest in your own, leveraging real estate tax advantages for long-term growth.

Lawn care is a rapidly growing industry, with more homeowners opting to hire services for lawn maintenance. Starting a lawn care business involves setting up a website, building a customer base through direct outreach and Google My Business, and focusing on professionalism and service quality over price competition. Early steps include acquiring basic equipment, practicing lawn care techniques, and experimenting with pricing, while building customer relationships and maintaining a polished, professional appearance. As the business grows, upgrading equipment, expanding services, and possibly scaling through hiring and training employees become key to long-term success.

> Ayesha Ofori, a former Goldman Sachs executive, left her high-profile role after realising her work primarily benefited wealthy men rather than addressing the UK's £567 billion gender wealth gap. In response, Ofori founded Propelle, a platform dedicated to empowering women by providing accessible investment opportunities. The platform, which has raised £1.2 million in pre-seed funding, aims to bridge the gender investment gap by offering tailored investment options. With its female-focused approach, Propelle aspires to change the landscape of wealth-building for women in the UK.

> Alice Lin, an 80-year-old widow from Southern California, was scammed out of $720,000 by a fraudster she met on WeChat, who used "pig-butchering" tactics to build trust and convince her to invest in a fake crypto scheme. Despite seeking help from Chase Bank, Lin received no assistance and eventually sued the bank for failing to prevent the fraud. Lin successfully blocked the bank's dismissal of the case, while California lawmakers introduced Senate Bill 278, which aims to protect elderly customers from financial abuse by scammers.

> If you're looking to improve your finances, starting with small savings can make a big difference. Creating an emergency fund with $1,000 is a solid first step, as it provides a financial cushion. Additional smart options include opening a high-yield savings account, contributing to a retirement fund, or investing in a 529 plan for future education expenses. The key is to consistently save and reduce unnecessary spending, which helps build financial security over time.