Business news live: Housebuilders pay £100m after investigation and Reeves sent Cash ISA plea

US-based chipmaker Nvidia has become the world’s first-ever $4 trillion (£2.9tn) company after its shares rose again on Wednesday, surpassing $164 soon after trading opened.

Now, CEO Jensen Huang has seen his firm beat rivals Apple and Microsoft to become the first to cross the $4tn market capitalisation threshold – the share price multiplied by the number of outstanding shares, giving a valuation of the company.

Matt Britzman, a senior equity analyst at Hargreaves Lansdown, labelled it a “historic moment for US markets”.

According to court registry records, the villa is jointly owned by Lee’s widow, Hong Ra-hee, honorary director of the Leeum Museum of Art, and their three children – Lee Jae-yong, executive chairman of Samsung Electronics; Lee Boo-jin, president of Hotel Shilla; and Lee Seo-hyun, head of Samsung C&T’s fashion division. It was purchased in 2010 for 8.28 billion won and recently sold at a 175 per cent gain.

Laith Khalaf, head of investment analysis at AJ Bell, has listed out five key money-related issues that people should look out for over summer.

1) Changing money at the airport. This can cost you 189 euros over every £1000 exchanged, versus even using the same company online ahead of time. A big one to avoid!

2) Using credit cards instead of debit cards for withdrawals and ordering online money. Fees apply, so just avoid it.

3) Bank cards abroad. Now thankfully, more banks are bringing in no fees abroad as standard. But not all of them do and some charge a per-transaction fee. Make sure you know where you stand and get a specific abroad one if not. They are easy, available, free and quick.

4) Not paying in local currency. You’ve been there, in a shop overseas and the payment terminal offers you to pay in pounds sterling or in euros/dollars/wherever you happen to be. Always pay in the local currency – that’s where rates are far cheaper.

5) Buyback options. When you come back from travelling, selling your unused currency will net you far less than you paid for it usually. Sometimes with a fee on top, too. Save it for next time if you can!

The futures quotes show the US stock markets set to open higher this afternoon, with the Dow Jones leading the way, up 0.29 per cent.

Individual stocks such as Meta and Nvidia are set for modest rises after opening.

However, gold’s price is on the decrease once more, down almost 0.5 per cent.

John Lewis has been named as the nation’s favourite retail store, beating a string of other major businesses to take the top spot for customer satisfaction.

The UK Customer Satisfaction Index (UKCSI) received almost 60,000 responses from customers, ranging through retail, banking, services, utilities, telecommunications and more, with a score then assigned to each brand.

John Lewis edged out Marks & Spencer to take the top spot among retail outlets, with Holland & Barrett, Ocado and Amazon also among the best ranked.

In banking, the most notable highlight was seeing smaller, digital or challenger brands beat off competition from most of the main established high street names.

Full details and top brands here:

The EU is closing in on a trade deal with the US finally – but the overall tariff is expected to be higher than that arranged by the UK.

A report in the FT suggests Brussels will sign a temporary framework which will not have the same exemptions or reductions as the UK have, with cars and aerospace products.

The base tariff will be 10 per cent, the same as the UK, but EU agrifood products may be tariffed at 17 per cent.

Rachel Reeves is not just getting told not to cut the cash ISA – there are also renewed calls to remove stamp duty from buying British shares.

Presently, 0.5 per cent is charged on all purchases of UK-listed shares other than AIM companies.

That’s in contrast to buying European or US stocks, for example, which has no such fee attached – a real barrier to buying British, in the eyes of investment platforms.

The report from the CBI also wants secondary listings in London to become a more prevalent theme, particularly for firms already listed in Asia.

One of the biggest lines to come out of ongoing tariff discussions is Donald Trump suggesting pharmaceuticals could see a 200 per cent levee placed on them.

The US president said companies had to “to get their act together” – but suggested they might have a year or longer to make changes before those come into force.

AstraZeneca announced plans worth more than £2bn last year to develop on US soil and GSK announced more than £500m worth of US investment shortly before Mr Trump was elected.

A watchdog has cracked down on a host of weight-loss jab providers for advertising the prescription-only medications to the public.

The Advertising Standards Authority (ASA) said the nine rulings against the ads – one featuring reality TV personality Gemma Collins – made it “crystal clear” that all injectable forms of weight-loss medication were prescription-only and therefore could not advertised to the public.

In December, the ASA warned businesses and individuals who were targeting members of the public with ads for the medicines.

More from Josie Clarke, PA:

Any attempt by Rachel Reeves to plug the gap in the UK’s public finances through a wealth tax would be “naive”, with very few success stories from other nations, experts have warned.

The chancellor may need to find as much as £30bn in savings through either cutting costs or raising taxes ahead of her Budget, with Keir Starmer’s government under pressure to find ways of raising funds for the public purse.

But leading tax lawyer Dan Neidle, now of Tax Policy Associates, claims a wealth tax would actually have a detrimental effect on the UK’s tax take – and that the government would be “arrogant” to think it would work in this country.