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Donald Trump has called for US companies to stop reporting quarterly results, adding that a shift to publishing figures twice a year will save them cash and allow executives to focus on their businesses.
The US president issued his call in a post on his Truth Social network on Monday, contrasting standard practice in the US with what he depicted as China’s more long-term approach.
Most publicly listed US groups are required to file quarterly and annual financial filings with the Securities and Exchange Commission, known respectively as 10-Q and 10-K disclosures.
“Subject to SEC Approval, Companies and Corporations should no longer be forced to “Report” on a quarterly basis . . . but rather to Report on a “Six (6) Month Basis,” Trump said.
“This will save money, and allow managers to focus on properly running their companies.”
He added: “Did you ever hear the statement that, “China has a 50 to 100 year view on management of a company, whereas we run our companies on a quarterly basis??? Not good!!!”
This is a developing story
