Toys for Tots

Toys for Tots

CORTLAND

Apostolakis Auto Group invites member of the community to help it support local charities during the holiday season.

Through Friday, Apostolakis Honda in Cortland and Shenango Honda in Hermitage, Pa., will collect new, unwrapped toys for the area Marines Toys for Tots program.

Both locations will also conduct in-store food drives until Dec. 16. Shenango Honda is accepting nonperishable food items for the Community Food Warehouse in Mercer County. Apostolakis Honda is accepting donations for Second Harvest Food Bank.

Apostolakis Honda is located at 3156 Elm Road. Shenango Honda is at 3965 E. State St. in Hermitage.

MVYP holiday gala

YOUNGSTOWN

The Mahoning Valley Young Professional organization announced tickets are now on sale for its annual holiday gala.

The event – which will include dinner, dancing, auctions and entertainment – is from 6 to 10 p.m. Saturday.

Attire is formal, black tie optional.

The cost is $40 per person or $75 per couple.

Get tickets on eventbrite.com.

Holiday spending

WASHINGTON

From Thanksgiving through the following Monday, more than 165 million Americans shopped online or in stores, surpassing the 164 million who said they planned to shop in a consumer survey the National Retail Federation and Prosper Insights & Analysis conducted before the holiday.

The NRF reported the average shopper spent $313.29 on gifts and other holiday items over the five-day period. The biggest spenders were millenials and Gen Xers, at an average of $413.05.

“For several years, we’ve been talking about the dynamic nature of the retail industry and the speed of change necessary to meet the consumer demand,” NRF President and CEO Matthew Shay said. “This year’s research clearly shows that the investments made by retailers are paying off in a big way.

The most popular day for online shopping was Cyber Monday; Black Friday was the most popular day for in-store shopping, with 47.4 million shoppers.

Record for spending

YOUNGSTOWN

The ninth annual Small Business Saturday, which takes place the day after Black Friday and urges consumers to shop at small businesses, set a spending record this year, according to a survey conducted by American Express and the National Federation of Independent Business.

Total reported spending among U.S. consumers who shopped at independent retailers and restaurants was about $17.8 billion.

Among consumers who shopped on Small Business Saturday, 41 reported shopping online on Nov. 24.

Some businesses’ debt at highest level in two decades

WASHINGTON

The Federal Reserve is signaling potentially vulnerable spots in the financial system, citing some U.S. businesses’ debt at the highest levels in two decades and risky debt growing.

The Fed’s report issued Wednesday was its first assessing the stability of the U.S. financial system.

Ten years after the financial crisis, the new report points to excessive borrowing by households and businesses, banks’ elevated debt levels, and unrealistically high prices for stocks and other assets.

Staff/wire reports