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President Donald Trump says he has asked the SEC to study whether to stop requiring companies to report quarterly earnings.In speaking to business leaders, one told him a twice-a-year reporting system would allow companies the flexibility and cost savings companies need to "Make business (jobs) even better in the U.S." Trump tweeted Friday morning. Trump said he directed the SEC to look into a change in its requirements.Public companies must report their sales, profits and the state of the company's balance sheet every quarter. That has been required since the Securities Exchange Act of 1934, which was put in place to give more confidence and transparency to investors in the wake of the 1929 stock market crash. That act also created the SEC, which sets the regulations which govern those quarterly reports.Businesses have long complained that the reports require company executives to focus too much on the short term. Juicing numbers impresses investors, but it can force companies to miss out on long term trends. One of the reasons Tesla CEO Elon Musk wants to take his company private, he told his employees last week, was the way quarterly reports distort decisions at the company.President Barack Obama has also criticized quarterly reports.Speaking to the New York Review of Books in 2015, Obama said that he had talked to a large number of businesses executives who told him, "Because they've got quarterly reports to shareholders and if they've made a long-term investment that may pay off way down the line, or if they're paying their employees more now because they think it's going to help them retain high-quality employees, a lot of times they feel like they're going to get punished in the stock market. And so they don't do it, because the definition of being a successful business is narrowed to what your quarterly earnings reports are."Shareholders, however, use the quarterly earnings reports as a guide to the quality and health of their investments. Without quarterly financial reports, investors could be blind to important risk factors that could damage their portfolios.The president has run privately-held companies that didn't have to report results at all during most of his time in business,The European Commission, among others, only requires semi-annual financial reports of companies there, although major European companies whose stock is traded in both the United States and Europe will report on a quarterly basis in order to comply with SEC regulations.The-CNN-Wire 2519

RAINBOW (CNS) - One person was killed this afternoon when an SUV veered off a rural road in the far northern reaches of the San Diego area, struck a tree and caught fire, authorities reported.The fatal accident was reported about 4:45 p.m. on Pala Temecula Road, just south of the Riverside County line in the Rainbow community, according to the California Highway Patrol.The victim, whose identity was not immediately available, died at the scene of the crash, which left the roadway blocked in the area. 513

Race relations is one issue impacting voters as they head to the polls for the midterms next week.A recent poll from the Associated Press found 77 percent of Democrats and about 50 percent of Republicans say they're dissatisfied with race relations.During a speech this week, President Donald Trump stirred up another controversy.“They have a word. It sort of became old fashion. It's called a nationalist. And I say, really, we're not supposed to use that word?” President Trump said. “You know what? I am, I'm a nationalist, OK?”The president says he used the word because he's proud of our country, but some say the word is a signal to white nationalists and points back to the president's comments after the Nazi rally in Charlottesville last year.“He's allowing white nationalist to feel comforted in those words,” says Andre Perry, with the Brookings Institution. “It's clear he's using a divisive rhetoric to rally his base, and that rhetoric is racist.”But for the past year, Candace Owens with the conservative, non-profit organization Turning Point USA, has defended Trump.“No matter what he says, they spin it,” Owens says. “No matter how he says it, they spin it. You saw that with [the] Charlottesville thing. What he said was factually accurate, but they spun it like he was supporting the KKK.”At the White House, President Trump recently hosted a summit with young black conservatives like Owens.“Just because somebody thinks differently than you does not make them a racist,” Owens argues. “And when you keep continually calling people racist, what you're actually doing is diminishing the experiences that real people who lived through eras like that actually had.”“Black Americans on many social issues are very conservative, but until Trump rids himself of the very racists policies, blacks should not find comfort in that administration,” Perry argues. 1886

RANCHO SANTA FE, Calif. (KGTV) -- The forward rate of spread has been stopped after a fire scorched several acres in Rancho Santa Fe Tuesday afternoon. According to Cal Fire, the blaze started on the 6000 block of Avenida Cuatro Vientos around 2 p.m. The agency said the fire burned through two to three acres. A resident of the neighborhood was at work and said his wife called him, crying and concerned about the flames moving up the hill."Fortunately, my next-door neighbor, who's been here for over 30 years, had a portable pool pump," said Dr. Afshar. "And he was the first to arrive on action to put out the flames that were in our backyard. By the time he had it controlled, the fire department was here."The homeowner believes the fire may have been started by crews hired to clear brush.Witnesses report seeing smoke as far away as Interstate 15. Video taken from the fire shows blackened hillside working its way up near a home perched atop the hill. 969

President Donald Trump's administration plans to propose a new rule Friday that would bar abortions at facilities receiving federal family planning funds, according to two people familiar with the plans -- a move aimed squarely at Planned Parenthood, which accepts some federal money for non-abortion services.Long sought by conservatives, the step would take the administration's push to curtail abortions further. There are already laws in place that prevent federal money from directly funding abortions, but groups like Planned Parenthood still accept federal dollars for services like annual screenings and checkups."This proposal does not necessarily defund Planned Parenthood, as long as they're willing to disentangle taxpayer funds from abortion as a method of family planning, which is required by the Title X law," said a Trump administration official. "Any grantees that perform, support, or refer for abortion have a choice -- disentangle themselves from abortion or fund their activities with privately raised funds."Under the new rule, those services would have to be performed in a different place than abortions, and by different employees, if the facility is to continue receiving federal family planning dollars.Planned Parenthood receives some of its funding from those programs, known as Title X. But the bulk of the federal money it receives comes from Medicaid, and would not be affected by the new rule.The-CNN-Wire 1447

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