"Donald Trump has called for US companies to abandon quarterly reporting, shift to a semi-annual model. Having to cover this stuff, I can say that's something I and many like me could get behind. On a more serious note, the idea has plenty of merit - for instance it could foster a change where management focus all their efforts not on the next quarterly target, instead taking a more measured, long-term view."
"Wall Street rose to fresh record highs following some positive comments on China trade talks from US president Donald Trump and as investors look ahead to the start of the Fed's two-day policy meeting today. The S&P 500 closed above 6,600 for the first time, while the Nasdaq climbed almost 1%. And whilst European stock markets rose yesterday and Japan and South Korea hit fresh record highs overnight, the stronger pound is a bit of a drag on the FTSE 100's multinationals."
A proposal to move US corporate reporting from quarterly to semi-annual aims to reduce short-term management focus and encourage longer-term strategic decision-making. Potential benefits include a shift away from meeting quarterly targets toward more measured, long-term planning by management. Potential downsides include increased share price volatility around earnings announcements and a possible erosion of transparency for shareholders. In the UK, unemployment rose to 4.7% with wage growth slowing, vacancies falling and payrolls shrinking by 142k, suggesting a cooling jobs market and pressure for deeper Bank of England rate cuts. Global markets rose, with the S&P 500 and Nasdaq reaching records, while a stronger pound weighed on FTSE 100 multinationals; Alphabet reached a $3tn market cap and announced a multi-billion dollar investment in the UK.
Read at London Business News | Londonlovesbusiness.com
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