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(Bloomberg) -- Oil fell for a second day after Chinese economic data stoked concerns about demand and equity markets slipped. Most Read from BloombergHow California Sees the World, and ItselfLondon’s Tube Fares Are Set to Rise by 4.6% Next YearWest Texas Intermediate dropped almost 1% to settle near $70 a barrel, while Brent slid to around $73. Equities retreated in most regions, adding to the pressure on crude from weak Chinese refining and retail sales numbers on Monday. Traders are also await

Pacific Gas & Electric Co. could receive up to $15 billion in federal loans to help the utility modernize its power grid and expand clean energy infrastructure across central and northern California, officials announced Tuesday. The U.S. Department of Energy announced a conditional commitment for one of the largest loan guarantees ever under its Energy Infrastructure Reinvestment program. The funds would support a portfolio of projects to expand hydropower generation and battery storage, upgrade transmission capacity, and enable virtual power plants throughout PG&E’s service area, the energy department said.

WASHINGTON (Reuters) -U.S. retail sales increased more than expected in November as households stepped up purchases of motor vehicles and online merchandise, consistent with strong underlying momentum in the economy as the year winds down. The report from the Commerce Department on Tuesday had no impact on expectations that the Federal Reserve would cut interest rates on Wednesday for the third time since the U.S. central bank initiated its policy easing cycle in September. Fed officials started a two-day policy meeting on Tuesday.

Retail sales increased in November amid a strong start to the holiday shopping season.

WASHINGTON (Reuters) -Since Donald Trump's election to a second term last month, Federal Reserve policymakers including Chair Jerome Powell have said it is too soon to factor in the U.S. president-elect's yet-to-be-detailed policies into forecasts. But eight years ago Powell as a Fed governor joined the majority of his colleagues in doing just that, meeting records show, bumping up estimates for economic momentum and interest rates to reflect the expected effect of Trump’s tax cuts and other policies. So it may not be all that surprising that a growth upgrade for next year may be back in the cards again this week when Fed policymakers gather to deliver what is expected to be a third interest rate cut and to update their forecasts for growth, unemployment and inflation.

(Bloomberg) -- Economists raised their projections for US inflation next year on tariff concerns and now expect one less interest-rate cut from the Federal Reserve than they anticipated a month ago.Most Read from BloombergHow California Sees the World, and ItselfHong Kong's Expat Party Hub Reshaped by Chinese InfluxLondon’s Tube Fares Are Set to Rise by 4.6% Next YearAccording to the latest Bloomberg monthly survey of economists, the annual core personal consumption expenditures price index — wh

(Bloomberg) -- German business expectations sank in December, highlighting the challenges for Europe’s top economy with snap elections likely to bring a change of government.Most Read from BloombergHow California Sees the World, and ItselfHong Kong's Expat Party Hub Reshaped by Chinese InfluxLondon’s Tube Fares Are Set to Rise by 4.6% Next YearAn expectations gauge by the Ifo institute slumped to 84.4 from 87, the Ifo institute said Tuesday. Analysts polled by Bloomberg had predicted a slight up