The Sage SME Performance Pulse also highlighted continuing problems from late payments

A survey by Tyneside technology giant Sage has pointed to increased profitability in the SME sector, but warns that late payment continues to be a major problem for many smaller firms.

The Sage SME Performance Pulse, which draws on accounting data from nearly 150,000 SMEs around the UK, found profit growth has accelerated consistently over recent quarters, reaching its highest level since early 2022. Sage’s data suggests profits grew by 7.4% in the year to Q1 2026, up from 5.5% the previous quarter.

Sage said that SME growth remains broad-based across the UK, with the East Midlands seeing the highest growth and SME profits in the North increasing by 3.4%. It said strong performances were seen in the manufacturing, professional services, technology and finance sectors.

Sage has in recent years set itself up as a champion of the small business sector, which makes up much of the client base for its accounting software and other technologies.

Derk Bleeker, chief commercial officer at Sage, said: “The UK’s small business community continues to demonstrate extraordinary resilience to adapt and grow. The fact that profitability has reached its highest level in four years is a testament to the determination and ingenuity of business owners across the country. It also highlights the opportunity that exists to help SMEs build on this momentum and unlock even greater growth in the years ahead.”

But Sage’s survey has also highlighted how late payments remain a significant issue for many small firms. Nearly half of all SME invoices (49%) are overdue, the survey found, with businesses waiting an average of 27 days to receive payment after issuing an invoice. The delays are creating a ripple effect across the economy, with SMEs themselves now taking an average of 37.1 days to pay supplier invoices, up from 31.9 days in the first quarter of 2025.

Emma Jones, the Government’s Small Business Commissioner, said: “Sage’s data shows that more needs to be done to tackle late payments, with too many small businesses still waiting weeks to be paid. That’s why action to improve payment practices is so important. It gives firms greater certainty over their cash flow and the confidence to invest, hire and grow. Tackling late payments isn’t just about fairness; it’s essential to unlocking the full potential of the UK’s small businesses.”

Separately, Sage and its partner Village Capital have awarded 12 grants totalling £141,000 to entrepreneurs from the second cohort of the Sage Impact Entrepreneurship programme.

The programme supports under-represented businesses addressing pressing challenges and has recognized two Newcastle firms: Recovolt, which develops infrastructure to safely neutralise end-of-life EV, and METZero, a wastewater technology company that retrofits treatment sites with a solution that cuts pollution and energy.

Sales of over 1,800 listed private manufacturing companies expanded by 14.5 per cent in the fourth quarter of 2025-26, mainly driven by automobiles, electrical machinery and non-ferrous metals industries, according to RBI data released on Tuesday.

At the aggregate level, listed private non-financial companies continued to record a double-digit sales growth of 13.9 per cent during the January-March period of 2025-26, up from 10.1 per cent in the previous quarter.

The Reserve Bank of India (RBI) released the data on the performance of the private corporate business sector during the fourth quarter of 2025-26, drawn from abridged quarterly financial results of 3,266 listed non-government non-financial companies.

“Sales of 1,817 listed private manufacturing companies expanded by 14.5 per cent (y-o-y) during Q4:2025-26, as compared to 11.4 per cent in the previous quarter,” the RBI said.

This acceleration was mainly driven by automobiles, electrical machinery and non-ferrous metals industries, it added.

RBI further said sales growth of Information Technology (IT) companies continued to improve further to 9.9 per cent YoY during Q4 of 2025-26 from 8.8 per cent in the previous quarter.
On the other hand, expansion in sales growth of non-IT services companies improved substantially to 20.3 per cent from the previous quarter, mainly driven by the wholesale and retail trade industry.RBI also said that with global uncertainties, raw material expenses of manufacturing companies rose substantially by 18.3 per cent YoY during Q4FY26.

Raw material to sales ratio also increased to 58.5 per cent during the January-March quarter from 57.5 per cent in the previous quarter, indicating input cost pressure.

The staff cost growth of manufacturing companies moderated to 9.8 per cent YoY during Q4FY26, compared to the previous quarter.

Within the services sector, the staff cost growth for non-IT services companies rose at a higher pace, while it remained broadly similar for IT companies during the fourth quarter as compared to the previous quarter.

On a sequential basis, the operating profit margin of manufacturing companies remained stable, while it moderated for services sector companies during the January-March period of the last fiscal.

The Vanguard S&P 500 ETF recently made stock market history, becoming the first ETF to reach $1 trillion in assets. And there’s good reason why it’s the most popular ETF among investors.

Not only does this fund offer diversified exposure to 500 of the largest U.S. companies, but it also has a rock-solid track record of consistent growth over time. In fact, since the Vanguard S&P 500 ETF was launched in 2010, it’s delivered total returns of nearly 800%, as of this writing.

But is it really possible to earn $1 million or more with this slow-but-steady ETF? History says yes – but with a caveat.

1 UNDER-THE-RADAR ETF TO INVEST $1,000 IN RIGHT NOW THAT’S OUTPERFORMING MAJOR INDEXES THIS YEAR

The path to a million-dollar portfolio

The market can be wildly unpredictable in the short term, but its long-term performance is much more stable. Over the last seven decades, the S&P 500’s (SNPINDEX: ^GSPC) annual returns have averaged out to just over 10% per year. The longer you stay in the market, the more likely it is that you’ll earn positive total returns.

Ticker	Security	Last	Change	Change %
VOO	VANGUARD S&P 500 ETF – USD DIS	693.83	+11.88	+1.74%

A long-term outlook is crucial with any investment, but it’s especially important with an S&P 500 ETF. This fund isn’t the highest earner, especially compared to growth ETFs that are designed to beat the market. However, its strength is in its long-term potential.

ETF ASSETS ARE SURGING. HERE’S HOW THEY DIFFER FROM MUTUAL FUNDS

Let’s say you’re earning a 10% average annual return on your investment, and you have a goal of reaching $1 million. At that rate, here’s approximately what you’d need to invest each month, depending on your timeline:

Number of Years	Amount Invested Each Month	Total Portfolio Value
20	$1,500	$1.031 million
25	$850	$1.003 million
30	$525	$1.036 million
35	$325	$1.057 million
40	$200	$1.062 million

Data source: author’s calculations via investor.gov.

Time and consistency are key to building significant wealth with the Vanguard S&P 500 ETF. It will likely take a few decades to accumulate $1 million with this type of investment, but it is within reach for many investors – assuming the S&P 500 continues earning returns in line with its historic average.

How to earn even more in the stock market

Again, the S&P 500 ETF is known more for its consistency than its high returns. For many investors, lower earning potential is a worthwhile trade-off for a fund with decades of history delivering consistent growth. Those who are looking to maximize their earnings in the stock market, however, may prefer a different approach.

HOW ETFS CAN BE EFFECTIVE BUILDING BLOCKS FOR RETIREES

Buying individual stocks is perhaps the best way to earn higher long-term returns. This strategy often requires more time and research, but a custom portfolio filled with healthy stocks can significantly outperform the S&P 500. Investing in growth ETFs is another option, as these funds only contain stocks with the potential for above-average returns.

The Vanguard S&P 500 ETF can offer diversification and stability, making it a smart choice for long-term investors. No matter where you choose to buy, investing consistently and staying in the market for the long haul can help you build wealth that lasts a lifetime.

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Katie Brockman has positions in Vanguard S&P 500 ETF. The Motley Fool has positions in and recommends Vanguard S&P 500 ETF. The Motley Fool has a disclosure policy.

Gold prices retreated modestly on Monday, closing at $4,346.60 per ounce after falling $5.00, or 0.11%, as the US-Iran peace agreement and reopening of the Strait of Hormuz eased geopolitical tensions and diminished short-term safe-haven buying.

The small decline followed a strong run that saw gold hit multiple record highs in recent sessions, driven by uncertainty over energy supplies and broader market volatility. With the ceasefire removing a major risk premium, some investors trimmed positions in the precious metal, shifting toward riskier assets like equities that rallied on the positive news.

Despite the pullback, gold remains near historically elevated levels, supported by continued central bank purchases, persistent inflation concerns and its role as a long-term store of value. The metal has benefited from diversification demand amid global economic uncertainties, even as short-term geopolitical risks have eased.

Market Reaction to Peace Deal

The US-Iran agreement, which includes the immediate lifting of the naval blockade and restoration of shipping through the Strait of Hormuz, triggered a broad relief rally in equities and a decline in oil prices. This environment typically pressures gold as investors move into higher-yielding or growth-oriented assets.

However, analysts note that the ceasefire is preliminary, with 60 days of technical talks on Iran’s nuclear program still ahead. Lingering uncertainties around implementation and long-term stability have prevented a sharper sell-off in gold, keeping prices supported near current levels.

The VIX, Wall Street’s fear gauge, has fallen significantly, indicating reduced market anxiety. Lower volatility generally weighs on gold, which often serves as a hedge during periods of heightened uncertainty. The current reading suggests markets are functioning with more normal risk perceptions.

Central Bank Buying and Structural Support

Central banks have been net buyers of gold for several consecutive years, providing a structural bid that has helped sustain prices even during risk-on periods. Emerging market institutions, in particular, continue to diversify reserves, viewing gold as a neutral asset less susceptible to geopolitical or currency risks.

This demand has offset some of the pressure from reduced safe-haven buying tied to the Middle East situation. Gold’s performance demonstrates its dual role as both a crisis hedge and a long-term portfolio diversifier.

Investment products tracking gold, including exchange-traded funds, have seen steady flows, reflecting ongoing interest from retail and institutional investors. The metal’s ability to maintain elevated levels despite the positive geopolitical news underscores its resilience.

Economic and Policy Factors

The US Federal Reserve’s steady policy stance has contributed to a relatively stable environment for gold. With inflation moderating but still above target in some measures, the metal retains appeal as a hedge against potential future price pressures.

Lower oil prices following the Iran deal are generally positive for gold by reducing inflationary fears and supporting real yields, but the relationship is complex. In this instance, the combination of geopolitical relief and persistent structural demand outweighed any immediate pressure from falling energy costs.

The US dollar showed mixed moves, with periods of weakness providing additional tailwinds for gold priced in the greenback. Currency fluctuations remain a key variable for the precious metal’s performance.

Sector and Mining Company Impact

Gold mining companies benefited from the recent price strength, with shares in major producers advancing. Higher prices improve margins and cash flow, potentially supporting increased exploration and development activity in the sector.

The surge in gold has implications for commodity-producing nations, bolstering export revenues and government budgets. In developing economies, gold often serves as an inflation hedge and store of value for individuals navigating currency volatility.

Investor Perspectives and Strategies

Market participants offered varied interpretations of the price action. Some viewed the modest pullback as healthy consolidation after a strong run, while others saw it as a tactical response to short-term risk reduction. Gold’s ability to hold near record levels despite positive news has impressed many observers.

For investors, gold continues to serve as a portfolio diversifier, particularly in uncertain times. While the immediate geopolitical relief has reduced some demand, longer-term factors like central bank buying and inflation hedging keep the metal attractive.

Financial advisers recommend appropriate allocation based on individual risk tolerance and portfolio goals. Gold can provide stability during periods of market stress, though it does not generate income like bonds or dividends.

Looking Ahead

Attention now turns to implementation details of the US-Iran agreement and upcoming US economic indicators. Any complications in the ceasefire or unexpected inflation data could influence gold’s trajectory in the near term.

Analysts remain generally constructive on gold’s outlook, citing structural demand and its role in diversified portfolios. Sustained strength will depend on the balance between economic growth expectations and lingering uncertainties in global affairs.

As markets digest the latest diplomatic developments, gold’s performance demonstrates its enduring appeal even as broader risk appetite improves. The metal’s record run in 2026 highlights changing fundamentals, including elevated central bank buying and persistent investor demand for diversification.

The coming weeks will bring further clarity on the peace deal’s impact and gold’s reaction to evolving economic conditions. For now, the modest pullback from record highs reflects a market adjusting to reduced immediate risks while maintaining underlying support from long-term structural factors.

Gold’s ability to reach new highs amid shifting conditions underscores its unique characteristics in an evolving economic and geopolitical landscape. Investors will continue monitoring developments in the Middle East and their implications for safe-haven demand in the weeks ahead.

Oil prices fell to a three-month low Tuesday on optimism over the expected reopening of the Strait of Hormuz after a peace deal between the United States and Iran.

Brent North Sea crude, the international benchmark, dropped 4.0 percent to $79.87 a barrel, dipping below $80 for the first time since early March.

The main US oil contract, West Texas Intermediate, slid 4.5 percent to $77.16 a barrel.

US President Donald Trump said the Strait of Hormuz would “completely open” once Washington and Iran sign their peace agreement on Friday in Switzerland.

Iran had effectively halted tanker traffic through the vital waterway in retaliation for US and Israeli strikes launched in late February, choking off oil and gas traffic and sending crude prices skyrocketing.

“Traders are pricing in the reopening of the Strait of Hormuz as the most immediate and positive result of any peace deal,” said David Morrison, senior market analyst at broker Trade Nation.
While Iranian officials have threatened to impose tolls on ships passing through the crucial channel, “as far as oil traders are concerned, they see a market which is loosening up at last,” Morrison said.

The NBA offseason has kicked into high gear with major questions surrounding three Western Conference teams, as the Denver Nuggets look to build around Nikola Jokic, the Houston Rockets eye a potential Kevin Durant addition, and the Los Angeles Lakers grapple with LeBron James’ future and roster construction ahead of free agency.

With the NBA Draft approaching and free agency set to open soon, front offices are weighing trades, extensions and strategic moves that could reshape contention windows. The Nuggets, Rockets and Lakers each face distinct challenges following their recent playoff performances, setting the stage for what could be one of the more active offseasons in recent memory.

Denver remains anchored by Jokic, the perennial MVP candidate whose presence ensures the Nuggets stay competitive. After a first-round playoff exit, the organization is focused on roster upgrades to better challenge stronger Western Conference opponents. Salary cap constraints will complicate efforts, but the team’s core remains intact with Jokic as the centerpiece.

Houston, despite an early playoff departure, enters the offseason with optimism. The Rockets believe a fully healthy Durant, combined with the continued development of their young core, positions them for a stronger push next season. Durant’s veteran presence could provide the leadership and scoring punch needed to elevate a talented but inexperienced group.

The Lakers face perhaps the most uncertainty. Questions about James’ long-term plans and how to construct a roster capable of contending remain at the forefront. Contract decisions involving key players will heavily influence the team’s direction, with free agency looming as a critical period for reshaping the roster.

Nuggets Prioritize Contention Around Jokic

The Nuggets enter the offseason ranked No. 6 in ESPN’s early power rankings, reflecting respect for their core but acknowledgment of the need for improvements. Jokic’s continued commitment provides stability, but the front office must address depth and defensive upgrades to avoid similar early exits in future postseasons.

Denver’s salary cap situation limits flexibility, forcing difficult choices between retaining current players and acquiring new talent through trades. The team is expected to explore creative ways to add perimeter defense and secondary scoring without disrupting the chemistry built around Jokic’s unique playmaking style.

Executive decisions in the coming weeks will determine whether the Nuggets can remain true contenders or risk slipping in a loaded Western Conference. Jokic’s elite basketball IQ and consistent production make him one of the league’s most valuable assets, giving Denver a strong foundation regardless of surrounding roster moves.

Rockets Eye Veteran Boost with Durant

Houston’s optimism stems from the potential return of a healthy Durant alongside a promising group of young players. The Rockets’ early playoff loss highlighted areas for growth, but the addition of a proven champion like Durant could accelerate their development into a legitimate threat.

The team has built a solid foundation with athletic wings and versatile defenders. Durant’s scoring ability and basketball intelligence would complement existing strengths while providing mentorship for younger talent. Front office discussions are expected to focus on fitting his contract and maximizing the roster’s potential around this veteran addition.

Houston’s trajectory appears upward, with the combination of youth and experience offering a balanced approach to contention. Successful offseason maneuvers could position the Rockets as a rising power capable of challenging established Western Conference elites.

Lakers Navigate Critical Contract Decisions

The Lakers sit at No. 9 in ESPN’s early power rankings, reflecting a competitive but incomplete roster heading into a pivotal period. James’ future remains a central question, with his contract situation carrying significant implications for the team’s cap space and long-term planning.

Roster construction will be key as the Lakers seek to surround their veteran stars with complementary pieces. Free agency presents opportunities to address weaknesses, but difficult choices loom regarding player retention and potential trades. The organization must balance short-term competitiveness with sustainable roster building.

Uncertainty around James’ plans adds complexity, as his decision could influence other players’ willingness to join or stay with the franchise. The Lakers have a history of attracting talent, but recent seasons have shown the challenges of maintaining contention in a deep conference.

Broader Offseason Context

The NBA offseason features several high-profile storylines, with teams across the league evaluating rosters following the conclusion of the 2025-26 season. Free agency and the draft will provide opportunities for reconfiguration, particularly for teams like the Nuggets, Rockets and Lakers seeking to improve their standings.

Western Conference dynamics remain particularly competitive, with multiple teams possessing the talent to make deep playoff runs. Offseason moves will play a decisive role in determining which franchises can challenge for championship contention next season.

League-wide salary cap considerations and luxury tax implications add another layer of complexity for front offices. Teams must navigate financial rules while pursuing upgrades, often requiring creative trade constructions or strategic cap management.

What Lies Ahead

The coming weeks will bring clarity as teams finalize draft selections and engage in free agency negotiations. For the Nuggets, the priority is maximizing the Jokic era through targeted improvements. Houston aims to accelerate its timeline with veteran additions like Durant, while the Lakers must resolve key contract situations to maintain relevance.

Success for each franchise will depend on execution during this critical period. The Nuggets must balance financial realities with competitive needs. The Rockets have the opportunity to build around returning stars and youth. The Lakers face pivotal decisions that could define their trajectory for years.

As the offseason unfolds, these three teams exemplify the challenges and opportunities facing NBA organizations. From roster optimization to long-term planning, the decisions made in the coming months will shape the league landscape heading into the 2026-27 season.

Fans and analysts alike will closely monitor developments involving Jokic, Durant and James, as their situations carry ripple effects across the Western Conference and beyond. The NBA offseason, always a time of speculation and strategy, promises to deliver significant changes for these franchises and the league as a whole.

New York City Mayor Zohran Mamdani seemingly confirmed long-circulating rumors that Taylor Swift and Travis Kelce plan to wed in the city over the Fourth of July weekend, casually referencing the high-profile event during a Monday press conference on public safety and major summer gatherings.

While addressing reporters about preparations for a FIFA World Cup match at MetLife Stadium on July 5, Mamdani mentioned the alignment of several major events. “We know it coincides with July 4th, America 250, Taylor Swift’s wedding, all happening at the same time,” he said with a smile. “And we are so excited to welcome the world here.”

The comment marked one of the most direct references yet to the timing and location of the pop superstar and NFL tight end’s anticipated nuptials. Neither Swift nor Kelce has officially confirmed details, but Mamdani’s remarks fueled speculation that the ceremony could take place in New York City, potentially at a venue like Madison Square Garden.

When asked if he had received an invitation or planned to attend, Mamdani responded lightheartedly. “No and no,” he said, laughing. “I wish them a lovely wedding. I’ll listen to ‘Only the Young’ at home on my own.”

The mayor’s office did not immediately respond to requests for clarification on whether the reference was based on confirmed information or playful acknowledgment of media reports. Representatives for Swift and Kelce also had no immediate comment.

Background on the High-Profile Couple

Swift and Kelce have been one of entertainment’s most followed couples since going public with their relationship in 2023. The singer, known for her record-breaking Eras Tour and multiple Grammy wins, and the Kansas City Chiefs star, a three-time Super Bowl champion, have frequently shared glimpses of their romance through social media and public appearances.

Kelce has previously hinted at summer wedding plans, noting the Chiefs’ training camp schedule in late July would limit available dates. Swift, during an appearance on “The Graham Norton Show” last fall, expressed excitement about planning the event. “I know it’s going to be fun to plan,” she said, adding that she plans to put “anyone I’ve ever talked to” on the invite list.

The couple’s combined global influence has made their wedding one of the most anticipated celebrity events in recent years. Reports have suggested an intimate yet star-studded affair, though details remain closely guarded.

Mayoral Comment Sparks Public Interest

Mamdani’s remarks came during a broader discussion on ensuring safety amid overlapping major events in the New York metropolitan area. He expressed confidence in the NYPD and state partners. “I am fully confident in the work of the NYPD as well as our state partners in delivering that safe experience,” he said. “We are the biggest city in the country. We are used to big events and we are incredibly excited for this one.”

The mayor’s casual inclusion of the wedding alongside America 250 celebrations and international sporting events underscored the scale of public interest and logistical planning involved. New York City has a long history of hosting high-profile events, from major sports championships to cultural milestones, and officials routinely coordinate extensive security measures.

Social media reacted swiftly to Mamdani’s comments, with fans and media outlets amplifying the moment. The reference quickly became a trending topic, reflecting the intense public fascination with Swift and Kelce’s relationship.

Implications for City Planning and Security

If the wedding does occur in New York over the holiday weekend, it would require significant coordination with other major events. July 4 celebrations, America 250 commemorations and the FIFA World Cup match create a complex calendar that demands careful resource allocation by law enforcement and city agencies.

Mamdani’s comments suggest officials are already factoring the wedding into broader safety planning. The city’s experience managing large crowds and celebrity events positions it well to handle such occasions, though the couple’s immense popularity could draw additional attention from fans and media.

Wedding industry experts note that celebrity nuptials of this magnitude often involve tight security protocols, private venues and extensive planning to balance privacy with celebration. New York City offers numerous iconic locations suitable for such an event, though no specific venue has been confirmed.

Couple’s Public Comments on Marriage

Swift and Kelce have both spoken positively about their relationship and future plans. Swift has described Kelce’s proposal as “10 out of 10” in previous interviews, while emphasizing the joy of planning their wedding. Kelce has echoed the excitement, focusing on creating a memorable experience with family and close friends.

The couple’s ability to maintain a relatively private relationship despite intense public scrutiny has been notable. Their appearances together at NFL games, award shows and other events have consistently drawn massive attention, but they have kept most personal details under wraps.

Broader Cultural Significance

A Swift-Kelce wedding would represent a major cultural moment, blending pop music and professional sports in a way few unions have achieved. The event would likely generate significant economic activity for New York City through tourism, media coverage and related celebrations.

For Swift’s global fan base, known as Swifties, and Kelce’s NFL supporters, the wedding holds special meaning as a celebration of one of the decade’s most prominent romances. Media coverage is expected to be extensive, with outlets worldwide preparing for what could be one of the most documented celebrity weddings in history.

As the July 4 weekend approaches, anticipation continues to build. While Mamdani’s comments added fuel to existing rumors, official confirmation from the couple remains absent. For now, the public and media must wait for further details from Swift, Kelce or their representatives.

The mayor’s lighthearted remarks highlighted New York City’s readiness to host major events, even as the specifics of one of the summer’s most anticipated personal celebrations remain under wraps. Whether the wedding occurs as suggested or follows a different timeline, the couple’s union is certain to captivate audiences around the world.