2/10/2009 - Financial intelligence

German industrial conglomerate Siemens stuck to its profit outlook, focusing on sourcing more components from low-cost countries after fiscal 2009 started well despite the knock-on effects of the credit crisis.

Bank of America is replacing some customers’ credit cards because of a data theft at a New Jersey card processing company. The bank won’t say how many cards it is replacing.

European finance officials are focused on reviving the banking system to boost lending and help companies and consumers survive the worst financial crisis since the Great Depression.

Boeing Co. has won a contract worth up to $2.95 billion from the U.S. Air Force for 15 additional C-17 military cargo aircraft.

With last week’s re-introduction in Congress of a bill to rein in what critics say are abusive credit card practices, the stage is set for a Washington battle that will determine whether entrepreneurs and other credit card users get relief soon from soaring rates and fees.

Fannie Mae and Freddie Mac could tap the government for up to $51 billion in coming weeks, exceeding some Wall Street estimates, so they can continue to operate as the largest providers of funding for U.S. residential mortgages.