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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

President Donald Trump visited California on Monday to receive an update on the dozens of wildfires that are currently raging across the Western United States.During a visit to McClellan Park, California on Monday, Trump received a briefing from local officials on the status of the fires that have killed 33 people in three states dating back to mid-August.The president then spoke at a ceremony recognizing the California National Guard, which has hundreds of members helping to battle the fires. At the event, he also awarded members with honors.Watch the event below:Trump has remained largely silent on the fires in the past few weeks. However, in recent days, he's taken to thanking firefighters in the region for their work in battling the flames.Trump addressed the fires during a Saturday campaign rally in Reno, Nevada — a city under a dense smoke advisory due to the nearby blazes."My administration is closely coordinating with state and local leaders, and we want to thank the more than 200,000 people that are working on it and 28,000 firefighters and first responders who courageously and bravely are fighting out there," Trump said.He added that California, Oregon and Washington had "never had anything like this," and stressed the need for better "forest management." 1293

President Donald Trump announced today he wants a tax bill to pass by Thanksgiving and be signed by Christmas.The President, speaking at the White House today, also said it will be the biggest tax reform event in history and the bill will benefit the middle class and businesses. He says Democrats may support the proposed bill.The not-yet-released bill has already attracted ire from one powerful outside group. And House Ways and Means Chairman Kevin Brady announced Saturday he'd already made one concession to assuage concerns?from northeast Republicans, a sign of the major legislative undertaking Republicans are about to embark on. 661

President Donald Trump slammed his administration's top infectious disease expert, Dr. Anthony Fauci, during a conference call with his campaign staff, calling him a "disaster," according to Axios, The Associated Press and NBC News.During the call, Trump reportedly claimed, without evidence, that more than 800,000 people would have died of COVID-19 by now "if I listened to him." As of Monday, more than 200,000 have died of COVID-19.Trump also called Fauci a "nice guy," who had been in his position for "500 years." Fauci has been the director of the National Institute of Allergy and Infectious Diseases since he was appointed by President Ronald Reagan in 1984.During the call, Trump added that he would be unable to remove Fauci from his position without significant public backlash."Every time he goes on television, there's always a bomb, but there's a bigger bomb if you fire him. This guy's a disaster," Trump said.Trump added during his campaign call that he believed Americans were ready to move on from the COVID-19 crisis."People are tired of COVID. I have these huge rallies," Trump said, according to CNN. "People are saying whatever. Just leave us alone. They're tired of it. People are tired of hearing Fauci and all these idiots."Trump's comments came a day after Fauci was interviewed on 60 Minutes. During that interview, Fauci said he was "absolutely not surprised" to learn that Trump had contracted COVID-19 earlier this month, citing the fact that the President often appeared in large crowds without a mask.Fauci, one of the most plain-spoken members of the White House's coronavirus task force, has said that the Trump administration has taken steps during the pandemic to limit his media appearances. He also criticized the Trump campaign last week after he said it used an interview clip taken in March out of context and without his permission in an ad that has been targeted to key swing states.On Monday, former Vice President Joe Biden issued the following statement on Trump's comments on Dr. Fauci: 2042

President Donald Trump will make two campaign stops in the upper Midwest Monday as he attempts to sway voters in crucial battleground states of Minnesota and Wisconsin.Trump's campaign stops will come the same day that Democrats will open their party convention — a convention originally scheduled to take place in nearby Milwaukee, Wisconsin, but which has since been rescheduled to take place virtually.According to the official White House schedule, Trump will first travel to Mankato, Minnesota and deliver remarks at North Star Aviation. He'll then fly to Oshkosh, Wisconsin, where he'll deliver a speech at the city's airport.Trump is expected to deliver a speech on "jobs and the economy" at both locations, according to the official White House schedule.The state of Wisconsin proved critical to Trump's victory in 2016, where he broke through the Democrats' "Blue Wall" in the Upper Midwest and edged out a close victory in the state. The state could again prove critical in 2020 election, and recent polls show presumptive Democratic nominee Joe Biden with a slight edge in the state.Former Secretary of State Hillary Clinton carried Minnesota during the 2016 election.Trump's comments come the same day that an ABC/Washington Post poll showed Biden leading nationally with 53% to 41% lead. 1308