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Morning business news - September 2

Christopher McKevitt
Christopher McKevitt

MARKETS AWAIT KEY US JOBS FIGURES - Some crucial jobs figures await in the US later today. Economic jitters caused Wall Street to close 1% lower last night.

Richard Hunter, analyst at London-based Hargreaves Lansdown, said the US employment figures were probably the most closely watched set of economic figures each month.

He said there had been some positive US figures recently, and it was important that these figures were strong.

Mr Hunter said economists were expecting the US economy to have added 68,000 jobs in August.

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BIG UK DEAL FOR IRISH CANDLE MAKER - An Irish business has signed a deal to sell candles into the John Lewis department store chain in the UK. 20 John Lewis stores are to supply Max Benjamin candles which are made in Enniskerry in County Wicklow.

Max Benjamin was founded by two brothers, Mark and David Van den Bergh, six years ago. Mark Van den Bergh said the deal was worth £40,000 and the first order was leaving today.

He said the company had been targeting John Lewis for about 18 months. Mr Van den Bergh said the Irish company's candles were made from four different natural waxes, whereas most candles were made from paraffin.

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NEWS IN BRIEF AND CURRENCIES -There's an interesting morning ahead as the Central Bank Governor Patrick Honohan and Matthew Elderfield before the Joint Oireachtas Committee on Finance and Public Service. There are also have tax and spending figures later this afternoon covering the first eight months of the year.

The United States is reported to be planning to file lawsuits against more than a dozen big banks over mortgage-backed securities seen to have fuelled the 2008 economic crisis.

On the currency markets, the euro is worth $1.4236 and 88 pence sterling.