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Republican U.S. Sen. David Perdue and Democrat Jon Ossoff will face off in a Jan. 5 runoff in Georgia for Perdue’s Senate seat. Libertarian candidate Shane Hazel was able to get enough votes to prevent either candidate from clearing the 50% threshold needed for an outright win. The contest has already seen huge spending from outside groups on both sides and millions of dollars more are expected to pour into the state ahead of the runoff. Perdue is a close ally of President Donald Trump. The race has been characterized by sharp attack ads but relatively moderate political positions.Coupled with another runoff in Georgia in a special election, the two Senate races could decide which parties have control of the US Senate. 737

Republican Senate Majority Leader Mitch McConnell predicted Wednesday that if Democrats take control of the House of Representatives and start investigating President Donald Trump, it could backfire on the party and create a political advantage for the President."I think it will help the President get re-elected," McConnell said during an interview with The Associated Press when asked about the possibility that Democrats could "launch many, many investigations into the President and the administration," into matters such as Trump's tax returns and his business empire, if they win the House in the midterm elections.McConnell suggested that if Democrats were to pursue that strategy, voters would turn against them.The majority leader recalled what he described as the "price" that Republicans paid for impeaching Democratic President Bill Clinton in the 1990s.McConnell said many congressional Republicans thought they would have "a great year in '98," but instead "it worked exactly the opposite.""The public got mad at us and felt sympathy for President Clinton," he said.McConnell warned, "So this business of presidential harassment may or may not quite be the winner they think it is." 1215

President Donald Trump used an odd example Tuesday night to call for stronger voter ID laws, saying that identification is required for buying groceries.There is no such requirement."We believe that only American citizens should vote in American elections, which is why the time has come for voter ID, like everything else. Voter ID," Trump told the crowd of supporters gathered at the Florida State Fairgrounds. 420

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

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