“This will save money, and allow managers to focus on properly running their companies,” Trump wrote in a Truth Social post, reprising an issue Trump pushed unsuccessfully during his first administration. He added that the change would be subject to approval by the SEC.

Currently, the SEC requires corporations to report their financial statements every 90 days. Half-yearly reporting would mark a huge change in disclosure requirements and put the US in line with the UK and several countries in the European Union.

is will save money, and allow managers to focus on properly running their companies,” Trump wrote in a Truth Social post, reprising an issue Trump pushed unsuccessfully during his first administration. AFP via Getty Images

In 2018, top corporate bosses Jamie Dimon and Warren Buffett argued in a Wall Street Journal op-ed that short-termism was harming the US economy.

Some investors have cautioned that waiting longer for financial information would mean less transparency and increase market volatility, making US stocks less attractive, although several on Monday said they supported the idea.

“From the perspective of better capital allocation by public companies, the focus on meeting quarterly earnings projections can lead to decisions based on short-term implications, when we would prefer management keep their eye on the long-term ball,” Burns McKinney, managing director and portfolio manager at NFJ Investment Group, Dallas, said in an email.

Eric Kuby, chief investment officer at North Star Investment Management Corp in Chicago, said he thought that there was “merit” to the idea.

Some investors have cautioned that waiting longer for financial information would mean less transparency and increase market volatility, making US stocks less attractive. But some support the idea. A New York Stock Exchange trader, above. AP

“Having the reporting every quarter does put companies in a position where they are almost always preparing their quarterly reports. And not much usually changes quarter to quarter,” he said.

Trump’s views on the matter are not new. In 2018, he called for the SEC to consider eliminating reporting requirements for public companies during, but some investors pushed back on that proposal, which never gained traction.

The SEC did not immediately respond to Reuters’ request for a comment.

In 2018,Trump called for the SEC to consider eliminating reporting requirements for public companies during, but some investors pushed back on that proposal, which never gained traction. REUTERS

Investors argue that one of the reasons US stocks trade at a premium to equities elsewhere is due to greater financial reporting requirements. The benchmark S&P 500 index is trading at 24.3 times earnings estimates for the next 12 months, compared to 15.28 times for Europe’s STOXX 600, according to data compiled by LSEG.

Companies listed in the US did not always report their financial results on a quarterly basis. The regulator mandated the shift from semiannual to quarterly reporting in 1970.

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Federal Communications Commission chair Brendan Carr in February criticized Verizon for its promotion of DEI programs and said it could be a factor in the Frontier deal.

Verizon said in a letter to Carr seen by Reuters the company was removing its “Diversity and Inclusion” website and removing references to DEI from employee training and making other changes to hiring, career development, supplier diversity and corporate sponsorship practices.

Verizon said it was removing references to DEI from employee training and making other changes to hiring, career development, supplier diversity and corporate sponsorship practices. Christopher Sadowski

The company will no longer maintain any workforce diversity goals and will drop a component of its management compensation plan that historically included a goal to increase the representation of women and minorities in the company’s US workforce.

“Verizon recognizes that some DEI policies and practices could be associated with discrimination,” said Verizon chief legal officer Vandana Venkatesh in the letter saying the change were effective immediately.

Carr, a Republican designated by President Trump in January, told NBC News parent Comcast in February he was opening a similar probe into the company’s promotion of DEI programs.

Carr said in a statement he was pleased Verizon is ending its DEI policies outlined in the letter. “This is a good and important step forward — one that promotes equal opportunity, nondiscrimination, and the public interest,” Carr said.

FCC Chair Brendan Carr told NBC News parent Comcast in February he was opening a similar probe into the company’s promotion of DEI programs. AFP via Getty Images

Verizon is nearing FCC approval for its $9.6 billion purchase of Frontier.

Trump in January issued sweeping executive orders to dismantle diversity, equity and inclusion programs in the US and pressured the private sector to join the initiative.

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Walmart Chief People Officer Donna Morris said in the memo sent to employees that the company is cutting roles and asking office-based employees in Hoboken, NJ, and some of its smaller offices to relocate to the company’s newly opened headquarters in Bentonville, Ark., as well as its office in Sunnyvale, Calif.

“We are making these changes to put key capabilities together, encouraging speed and shared understanding,” Morris said in the memo. “Through this review process, we have eliminated some roles as we streamline how we work.”

Walmart didn’t specify how many people will be affected, as the employees who are being asked to relocate will have at least a month to inform the company if they plan to move to the main hubs.

The decision announced on Tuesday is part of a broader relocation strategy unveiled in May 2024, when Walmart initiated the first phase of relocating employees by asking staff from offices in Dallas, Atlanta and Toronto to move to Walmart’s corporate headquarters in Bentonville, its Hoboken office or its California location. Any employees still working remotely at that time were also called back to the office.

Walmart didn’t specify how many people will be affected, as the employees who are being asked to relocate will have at least a month to inform the company if they plan to move to the main hubs. Bloomberg via Getty Images

Walmart began requiring workers to return to the office in February 2022, saying it boosts collaboration, innovation and faster work processes, while also strengthening company culture.

As the corporate world began to ditch remote work, Walmart constructed a new 350-acre campus in Bentonville, where it opened office buildings last month. The campus has 12 office buildings, along with amenity buildings, parking decks and surface lots. 

The company is also opening new office spaces in Sunnyvale and Bellevue, Wash., while expanding its office in Hoboken and its fashion office in New York City. 

The decision announced on Tuesday is part of a broader relocation strategy unveiled in May. AP

“Our values and culture are strategic differentiators for us as a company, and they are fostered by being together,” Morris said in the memo. “We’ve already seen the benefits of having more teams working together in person, and today we are sharing another step that will help accelerate our momentum.” 

Morris said the company will help affected employees “navigate the path forward, including providing relocation support or severance.”

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