Could the US scrap quarterly reporting?

Global oil reserves are declining at a record pace of 6.5 million barrels daily due to the ongoing U.S.-Iran conflict, which has effectively closed the Strait of Hormuz and left only 45 days of refined product supply worldwide. Simultaneously, the SEC is proposing a shift from quarterly to semi-annual earnings reporting to reduce short-term corporate pressure and encourage long-term growth, a move currently under a 60-day public comment period. In the technology sector, major AI firms including Google, XAI, and Microsoft have agreed to pre-release security reviews with the Commerce Department to mitigate risks like cyberattacks and biosecurity threats. Meanwhile, HSBC reported a significant profit hit, driven by a $400 million fraud-related charge linked to the collapse of Market Financial Solutions and rising credit losses attributed to the Middle East conflict.