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.
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