FT News Briefing Could the US scrap quarterly reporting?
45 snips
May 6, 2026 
George Steer, FT US markets correspondent, tackles the SEC’s plan to let companies report earnings twice a year. Hortense Aliyei, FT banking editor, unpacks HSBC’s fraud-linked hit. Also in focus: oil reserves plunging as conflict strains supplies, and Google, xAI and Microsoft agreeing to US security checks on new AI models.
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Oil Reserves Are Falling At A Record Pace
- Global crude reserves fell by a record 6.5mn barrels a day in April as war disrupted supply through the Strait of Hormuz.
- Marc Filippino said Goldman Sachs now warns the world has only 45 days of refined products like gasoline, diesel, and jet fuel left.
SEC Pushes To End Mandatory Quarterly Reporting
- The SEC proposed letting US-listed companies report earnings twice a year instead of quarterly, ending a practice that has been standard since the early 1970s.
- George Steer said Paul Atkins argues frequent filings distract executives and fuel short-termism instead of growth, jobs, and more IPOs.
Big AI Groups Accept US Security Reviews
- Google, xAI, and Microsoft agreed to let the Commerce Department review new AI models before public release over national security fears.
- Marc Filippino said officials worry about cybersecurity, biosecurity, and chemical weapons, while Anthropic's April Mythos launch raised concerns it could turbocharge hacking.