USPS Old Chelsea Station may offer apartment space soon

The top of the Old Chelsea Station in Chelsea could soon host apartments.

The US Postal Service has hired a JLL team led by Brock Emmetsberger that includes Jeanne Davis and Danny Mankovsky, who will market the rooftop space to a developer.

The brokers say 67,522 square feet can be developed on the property, which has 175 feet of frontage.

Residents will also have their own lobby and elevators.

Designed by architect Eric Kebbon and built in 1935, the two-story brick property at 217 W. 18th St. between Seventh and Eighth avenues was listed on the National Register of Historic Places in 1989.

West Chelsea is booming with residents, restaurants and technology workers at both the Google building and Chelsea Market down the street.

The High Line and Madison Square Park are both just a few blocks away.

Saudi Crown Prince MBS visits Seoul for trade deals

South Korea tries to become a key player in Saudi Arabia’s restructuring of its economy away from a reliance on oil.

Saudi Arabia’s Crown Prince Mohammed bin Salman is in South Korea on a two-day visit.

It is his first foreign trip since a UN report held the kingdom responsible for the murder of journalist Jamal Khashoggi.

Al Jazeera’s Rob McBride reports from Seoul.

Ebay to hold ‘Crash Sale’ on July 15 in case Amazon’s site goes down

Ebay Inc. EBAY, -1.74% is taking shots at Amazon.com Inc.’s AMZN, -1.86% Prime Day event with its own "Crash Sale" on July 15. "If history repeats itself and Amazon crashes that day, eBay’s wave of can’t-miss deals on some of the season’s top items will excite customers around the world," eBay said in its announcement. Amazon’s site had a temporary outage in 2018. This year, Amazon Prime Day will span two days from July 15 through July 16. Ebay will offer discounts over three weeks starting on July 1. On July 15, the official "Crash Day," eBay will have promotions on consumer electronics brands like Apple Inc. AAPL, -1.52% Samsung and KitchenAid, with other deals planned "if Amazon crashes." From July 1 through July 7, there will be deals on items like camping gear and robotic vacuums. And from July 8 through July 22, there will be daily deals on items like appliances and smart home devices. Ebay stock inched up 0.4% in Wednesday premarket trading, and has rallied 39% for the year to date. The S&P 500 index SPX, -0.95% is up 16.4% for 2019 so far.

Kazakhstan Elections: Vote for new president on Sunday

Kazakhs will vote for the new president for the first time in almost 30 years. Interim President Kassym-Jomart Tokayev has been handpicked by former President Nursultan Nazarbayev.

Kazakhs are going to the polls on Sunday to choose a new president, for the first time in almost 30 years.

Interim President Kassym-Jomart Tokayev has been handpicked by the country’s former leader, Nursultan Nazarbayev.

Al Jazeera’s Robin Forestier-Walker reports from Almaty.

Slack stock rises after Baird starts coverage with bullish rating

Shares of Slack Technologies Inc. WORK, -1.57% are up 2.4% in premarket trading Wednesday after Baird analyst William Power initiated coverage of the stock with an outperform rating and $44 target. "With penetration early, we are positive on the strong growth and competitive position," he wrote. "Valuation is rich relative to the SaaS group, though we believe the disruptive competitive position and long-term margin and free-cash-flow opportunity stand out relative to the group." Power is upbeat about the steps Slack has taken to integrate other popular applications into its platform. These include offerings from Salesforce.com Inc. CRM, -2.11% Microsoft Corp. MSFT, -3.16% and Alphabet Inc.’s Google GOOG, -2.61%GOOGL, -2.61% Slack’s premarket gains come as S&P 500 SPX, -0.95% futures are up 0.4%.

Guatemala migrants: Climate change driving exodus

Average daytime temperatures in Guatemala have risen over the past decade, while crop-damaging frosts are more common.

Experts say climate change is one of the reasons for the exodus.

Prolonged drought and extreme weather occurrences are battering maize, beans and other crops.

Al Jazeera’s David Mercer reports from Guatemala.

Paychex Inc. Q4 adjusted earnings Miss Estimates

Paychex Inc. (PAYX) reported earnings for its fourth quarter that advanced from last year.

The company’s earnings totaled $230.4 million, or $0.64 per share. This compares with $217.7 million, or $0.60 per share, in last year’s fourth quarter.

Excluding items, Paychex Inc. reported adjusted earnings of $228.1 million or $0.63 per share for the period.

Analysts had expected the company to earn $0.64 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 15.9% to $980.4 million from $845.7 million last year.

Paychex Inc. earnings at a glance:

-Earnings (Q4): $228.1 Mln. vs. $208.3 Mln. last year.
-EPS (Q4): $0.63 vs. $0.58 last year.
-Analysts Estimate: $0.64
-Revenue (Q4): $980.4 Mln vs. $845.7 Mln last year.

Brazil federal public debt rises 0.31% to 3.89 trillion reais in May -Treasury

BRASILIA, June 26 (Reuters) – Brazil’s federal public debt rose 0.31% in May from April to 3.89 trillion reais ($1.01 billion), the Treasury said on Wednesday.

In the same period, the stock of domestic public debt securities rose 0.32% to 3.735 trillion reais, the Treasury said. ($1 = 3.8424 reais) (Reporting by Isabel Versiani Writing by Jamie McGeever Editing by Chizu Nomiyama)