Donald Trump asks US companies to give up a 75 -year -old practice. “It will allow managers to focus on the good management of companies”

Donald Trump has asked American companies to stop reporting quarterly results, a practice entered in 1970, adding that the transition to publishing the figures twice a year will save money and allow the directors to focus on their business.

The US President expressed his appeal to a post on his social network Truth, contrasting the standard practice in the US with what he described to be the long-term approach of China, writes Financial Times.

Most American groups listed on the stock market are obliged to submit quarterly and annual financial statements at the Commission for Securities and Scholars, known, respectively, as “10-Q” and “10-K” statements.

“Subject to dry approval, companies and corporations should no longer be obliged to” report “quarterly … but to report to” six (6) months, “Trump said.

“This will save money and allow managers to focus on the good management of their companies.”

He added: “Have you ever heard the assertion that” China has a 50 to 100 -year -old vision of a company, while we run our companies quarterly ??? is not ok! “

Quarterly results are particularly important for American investors, writes FT, because companies need to disclose any significant information when reporting, which are closely pursued on Wall Street both to evaluate the performance of individual companies and to take the pulse of corporate America.

Earlier this year, the financial results of companies provided investors vital information on the financial impact of the tariffs imposed by Donald Trump.

The telephone sessions on the financial results, which some companies organize after publishing the results, represent an opportunity for analysts and investors to ask the directors about the information they have just revealed about the quarter.