The Traderszone Network

Russia’s government intends to spend at least 2.34 trillion roubles ($35 billion) to help the economy withstand Western sanctions and the collapse in oil prices, according to a plan which implies the final cost could be much higher. The plan said that these costs were still subject to government discussion. Russia’s Finance Minister Anton Siluanov said on Tuesday that the plan wouldn’t add to total budget expenditures, because of budget reserves and cutbacks elsewhere.

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Goldman Sachs said on Wednesday it expected prices for WTI crude oil to trade close to $40 (26 pounds) per barrel for most of the first half of 2015 in one of the lowest forecasts among major investment banks. Goldman, one of the most active banks in commodities, said that after a very weak first half prices should recover to $65 per barrel for WTI and $70 for Brent.

Global stocks drifted Wednesday after weak earnings from several U.S. companies added to global growth concerns as investors waited for the U.S. Federal Reserve’s latest statement on monetary policy. KEEPING …

China plans to cut its growth target to around 7 percent in 2015, its lowest goal in 11 years, sources said, as policymakers try to manage slowing growth, job creation and pursuing reforms intended to make the economy more driven by market forces. The growth target, which is set to be announced by Premier Li Keqiang at the annual parliament session in March, was endorsed by top party leaders and policymakers at a closed-door Central Economic Conference in December, said a number of people with knowledge of the outcome of meeting who spoke to Reuters.

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The vast majority of investors should not give bitcoin the time of day, writes Jeff Reeves.
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Citibank has reached an agreement with New York Attorney General to change its screening processes for checking and savings accounts.

Greece’s coalition government says it’s ready to launch talks with international creditors without any “catastrophic” clashes.
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