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Last Update on August 05, 2015 07:27 GMT

DAY AHEAD

WASHINGTON (AP) -- Payroll processor ADP reports today on how many jobs private employers added in July. The Commerce Department reports on the U.S. trade gap for June and the Institute for Supply Management, a trade group of purchasing managers, issues its index of non-manufacturing activity for July.

Corporate earnings reports are also expected.

GENERAL MOTORS-PLANT INVESTMENT

FLINT, Michigan (AP) -- General Motors says it's investing $877 million to upgrade an assembly plant in Flint.

The company plans to build a new, 883,000-square-foot body shop for Flint Assembly, which makes full-size pickups for the Chevrolet and GMC brands.

The new body shop will be closer to the Flint Metal Center, which supplies sheet metal to the plant. Construction is expected to begin in early 2016 and finish in 2018.

Flint Assembly, which opened in 1947, is GM's oldest plant in North America. GM says the upgrade will reduce the time and cost to ship parts between the two plants.

TOXIC ALGAE BLOOM

SEATTLE (AP) -- The Pacific seafood industry, coastal tourism and marine ecosystems could suffer from a vast bloom of toxic algae off the West Coast.

Researchers say the bloom is denser, more widespread and deeper than scientists feared even weeks ago.

This coastal ribbon of microscopic algae, up to 40 miles wide and 650 feet deep in places, is flourishing amid unusually warm Pacific Ocean temperatures. It now stretches from at least California to Alaska and has shut down lucrative fisheries. Shellfish managers have doubled the area off Washington's coast that is closed to Dungeness crab fishing, after finding elevated levels of marine toxins in tested crab meat.

So-called "red tides" are cyclical and have happened many times before, but ocean researchers say this one is much larger and persisting much longer, with higher levels of neurotoxins.

Dan Ayres, coastal shellfish manager for the Washington Department of Fish and Wildlife, says the bloom likely will bring a premature end to this year's crab season.

NETFLIX-BABY BENEFIT

SAN FRANCISCO (AP) -- Netflix is giving new parents on its payroll up to a year of paid leave in a move that could pressure other technology employers to improve their baby benefits as they vie for talent.

The employee benefit announced Tuesday on Netflix's blog is generous even by the high standards of Silicon Valley, where free meals and other perquisites supplement lavish salaries in the fiercely competitive battle for computer programmers and other technology workers.

Google, which consistently ranks among the best places to work, offers 18 weeks of paid maternity leave. Parents can also take seven to 12 weeks of paid "baby bonding" time during their child's first year.

The U.S. and Papua New Guinea are the only countries among 185 nations and territories that hadn't imposed government-mandated laws requiring employers to pay mothers while on leave with their babies, according to a study released last year by the United Nations' International Labor Organization.

Netflix's baby-benefit policy covers all of the roughly 2,000 people working at its Internet video and DVD-by-mail services, according to the Los Gatos, California, company.

IMF-CHINA

WASHINGTON (AP) -- The staff of the International Monetary Fund is recommending that China wait until at least October 2016 to join an exclusive club of the world's top currencies.

China wants its currency, the yuan, included in a basket of currencies used in IMF operations along with the U.S. dollar, euro, British pound and Japanese yen. It was hoping the yuan could be added this Jan. 1. The IMF board will consider the staff recommendation later this month.

China believes it deserves to be included because it boasts the world's second-biggest economy. But the yuan is not as widely used or freely traded as the other four currencies.

The IMF staff said in a report released Tuesday that it was also worried that adding a new currency Jan. 1 might rattle financial markets on the first day of trading next year.

There have been estimates by some private economists that the Chinese economy will get a major boost if its currency is added.

Since mid-June, the Chinese stock market has been plunging in value despite efforts by the government to end the free-fall.

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