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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

to recuse himself in the probe, as The New York Times reported Tuesday.The South Carolina Republican said he believed Trump was "expressing frustration" that Sessions should have shared his reasons for recusal before accepting the role of attorney general. 800

RAMONA, Calif. (KGTV) - The young man found shot to death in a Ramona home was identified by his roommate Monday as a resident of Ukraine.San Diego County Sheriff's deputies got a 911 call reporting Sunday at 8 p.m. reporting shots fired near the home on Wood Rock Lane. They found the victim dead inside.Four people live in the home, including Ben Ledbetter. He said the victim, a 20-year-old man, worked for Ledbetter's mobile detailing business for four years. Ledbetter believes he is being targeted and said someone killed his best friend out of anger."He's 100 percent good.  His heart is strong, his will is strong.  His attitude was positive.  You couldn't kill a better person.  He was the best person you could ever know," Ledbetter said.The victim's name is being withheld until his family can be notified.Deputies shut down the area near the home until 1 p.m. Monday to search for evidence. Ledbetter told 10News that detectives took his phone, truck and clothes as part of the investigation.Anyone with information on the incident is urged to contact sheriff’s Homicide Detail at 858-974-2321 or 858-565-5200.   1182

President Donald Trump was aware of his personal attorney Michael Cohen's hush money payment to porn star Stormy Daniels when he denied knowing anything about it last month, The New York Times reported Friday, citing two people familiar with the arrangement.Cohen paid Daniels 0,000 ahead of the 2016 presidential election for her discretion on an alleged sexual encounter she and Trump had more than a decade ago. Cohen has admitted to paying Daniels using money from his own pocket.Daniels filed a lawsuit over the nondisclosure agreement, claiming it was void because Trump never signed it himself. The lawsuit has since spiraled and has left Cohen in a potential legal predicament over whether the payment was an illegal in-kind campaign contribution.Trump had denied knowing about the agreement when he spoke to reporters on Air Force One in April. However, Trump lawyer Rudy Giuliani drew that claim into question when he said earlier this week that Trump had paid Cohen back. Trump then denied that any campaign money had been used to reimburse Cohen and said he was paid via retainer. 1103

President Donald Trump will meet Tuesday with the House and Senate Democratic leaders, Nancy Pelosi and Chuck Schumer, in order to find a way to avert a partial government shutdown on December 21, when funding for the Department of Homeland Security and other agencies expires.The central debate — how to secure the US southern border — has been stewing for months. Trump wants to build a wall; Democrats don't.Schumer has urged Trump to either accept the Senate's bipartisan agreement to spend .6 billion to boost border security measures, or agree to a one-year spending resolution that would keep those funded at the current level of around .3 billion. Schumer said last week that money can be used for fencing and other features, rather than "to construct any part of President Trump's 30-foot-tall concrete border wall."Trump and Republicans in Congress, meanwhile, have pushed for billion for the wall.In an interview on Fox Sunday, Sen. Lindsey Graham, Republican of South Carolina, said, the migrant caravan moving towards the US-Mexico border is a "game-changer" and urged the President to "dig in and not give in on additional wall funding."Schumer and Pelosi released a joint statement the night before their meeting with Trump, coming out strongly against Trump's wall proposal and arguing Republicans will feel the blame of a shutdown."Republicans still control the House, the Senate, and the White House, and they have the power to keep government open," Pelosi and Schumer stated. "Our country cannot afford a Trump Shutdown, especially at this time of economic uncertainty. This holiday season, the President knows full well that his wall proposal does not have the votes to pass the House and Senate, and should not be an obstacle to a bipartisan agreement."The easiest solution for Congress to avoid a shutdown and get out of Washington before the Christmas holiday could be to avoid the issue altogether, and pass a short-term resolution to extend the rest of the federal government's spending into next year, when Democrats take over the House. But Sen. John Cornyn, the Republican Whip, said Monday he didn't expect Trump to agree to that."That really just postpones the pain, it doesn't really solve the problem," said Cornyn, explaining that Trump still wouldn't then get the wall funding he wants.Other members of Republican leadership expressed doubt about the productivity of Trump's scheduled meeting Tuesday."Oh, it could be really important," said Sen. Roy Blunt of Missouri. "It's likely not to be very important."Despite Republican control of the House and Senate, Trump has little leverage to force Congress into appropriating money for the border wall. While "Build the Wall!" was perhaps Trump's most indelible campaign promise, Republicans in Congress are broadly less enamored than he is with the prospect of building it and Democrats still control enough seats in the Senate to block it.For months, Trump's frustration at Congress' response to his demand has spilled out into public. From July through September, Trump repeatedly said he'd be willing to shutdown the government over the wall, backtracked and then reiterated he would do it because he views it as a political boost. Few on Capitol Hill agree that Republicans would politically benefit should parts of the government shut down.Democratic leaders and the President appear to be far apart on the issue even though warning signs of the spending showdown have been flashing for so long.Last week, Pelosi called the proposed wall "immoral, ineffective and expensive," while Trump claimed that the country would save billions of dollars if Congress would pass a bill to build it."Either way, people will NOT be allowed into our Country illegally," Trump tweeted. "We will close the entire Southern Border if necessary." 3830