Business

Business Notes

Kentucky

Adecco Employment Services sold to Swiss company

Adecco Employment Services of Central Kentucky has been sold to Adecco Worldwide, the former owner, Guy A. Huguelet III, announced Monday. Adecco Worldwide, based in Switzerland, calls itself the world's largest employment agency. Financial details were not disclosed. Huguelet said the current managers and staff members will remain with the firm. Huguelet and William Rouse III launched the Lexington firm in 1993. Huguelet has been the sole owner since 1999. A Lexington native, Huguelet, 50, was chairman of Commerce Lexington in 2007.

Council to aid Texas horse owners

The Kentucky Horse Council is working to help Texas horse owners in need of feed. The group said it has been contacted by the Texas Horse Council for help coping with the damage from Hurricane Ike. Barns, fences and feed stores were damaged or destroyed by flooding and wind. The Kentucky Horse Council plans to buy feed and supplies from north Texas or southern Oklahoma to ship in. The council said 100 percent of money donated will go to benefit horses. To donate, go to www.kentuckyhorse.org/texas.shtml.

national

T-Mobile to unveil Google phone

Google Inc.'s announcement last year that it would give away software that could run cell phones was met by dizzy accolades from analysts who thought it would let the search engine company conquer the world of mobile advertising. On Tuesday, a fruit of that announcement is set to drop: T-Mobile USA will reveal the first phone to use Android, Google's software platform, at a New York news conference.

Bloomingdale's store to open in Dubai

Macy's Inc. has announced plans to open its first Bloomingdale's stores outside the United States, in Dubai in the United Arab Emirates. The Cincinnati-based department store operator said Monday that it will open a Bloomingdale's apparel and accessories store and a separate home store at the Dubai Mall in February 2010. The stores result from a relationship with diversified business company Al Tayer Group LLC in the Emirates.

Past-due auto loans on rise

The number of auto loans that were past due 60 days or more rose 11.5 percent in the second quarter compared with last year, according to credit reporting agency Trans-Union. The rate rose to 0.68 percent of outstanding loans, from 0.61 percent in 2007's second quarter.

Microsoft announces financial moves

Chaos in the money markets gave Microsoft Corp. an opening Monday to announce it would take on debt for the first time, launch a new $40 billion stock buyback plan and raise its dividend. The moves indicate that for all the credit problems plaguing the financial sector, cash-laden technology companies with good credit ratings are still borrowing money on favorable terms and otherwise enjoying flexibility. The largest information-technology company, Hewlett-Packard Co., approved an $8 billion buyback plan Monday. And Intel Corp. Chairman Craig Barrett told The Associated Press that the chip maker — which boasted $8.4 billion in cash and $2.1 billion in debt at the end of the last quarter — was feeling no squeeze from the credit crunch.

Compiled from Staff, wire reports

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