Could the US scrap quarterly reporting?
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 6 May 2026
⏱️ 10 minutes
🧾️ Download transcript
Summary
Global oil reserves plunged at a record pace in April and the SEC said it was proposing to allow public companies to file earnings reports every six months. Plus, the US will start reviewing some AI models over national security concerns and HSBC’s profits took a major hit from “fraud-related” exposure.
Mentioned in this podcast:
SEC moves to scrap quarterly reporting requirement
Global oil reserves plunge at record pace as Middle East war strains supplies
HSBC profits hit by $400mn ‘fraud-related’ exposure
Google, xAI and Microsoft agree to US national security reviews of new AI models
Note: The FT does not use generative AI to voice its podcasts
Today’s FT News Briefing was hosted and edited by Marc Filippino, and produced by Katya Kumkova, Saffeya Ahmed, Fiona Symon, and Sonja Hutson. Our show was mixed by Sam Giovinco. Additional help from Michael Lello and David da Silva. Our executive producer is Topher Forhecz. Cheryl Brumley is the FT’s Global Head of Audio. The show’s theme music is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | Good morning from the Financial Times. |
| 0:04.4 | Today is Wednesday, May 6th, and this is your FT News briefing. |
| 0:08.7 | All around the world, oil reserves are plummeting, and corporate America might kiss quarterly reports goodbye. |
| 0:15.9 | Plus, HSBC's profits took a massive hit last quarter. |
| 0:19.7 | We'll tell you what happened. |
| 0:21.5 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:42.2 | The world is running low on easily accessible oil, and it's happening fast. |
| 0:47.6 | Global crude reserves dropped at a record pace in April, about 6.5 million barrels a day. |
| 0:52.0 | That's according to estimates from S&P Global Energy, which tracks commodity prices. |
| 0:55.6 | The U.S. Iran war is no closer to a peace deal, and that means oil shipments are still stalled out of the critical street of Hormuz. It's been effectively |
| 0:59.9 | closed since the war started two months ago. Golden Sachs is now warning that there are only |
| 1:04.9 | 45 days of refined oil products left worldwide. That includes things like gasoline, diesel, and jet fuel. That's pretty |
| 1:12.4 | bad timing as the summer travel season is creeping up on us. |
| 1:21.4 | U.S. listed companies might not need to report quarterly earnings soon. The Securities and Exchange |
| 1:26.9 | Commission said yesterday it was proposing a rule that would allow companies to report twice earnings soon. The Securities and Exchange Commission said yesterday it was proposing a rule that would |
| 1:29.3 | allow companies to report twice a year. |
| 1:32.2 | Here to tell us more is the FTs George Steer in New York. |
| 1:35.1 | Hi, George. |
| 1:35.9 | Hi. |
| 1:36.7 | So how big of a deal is this? |
| 1:38.1 | I mean, how long has the Securities and Exchange Commission been requiring quarterly reports? |
| 1:43.0 | So quarterly reporting has been pretty customary in the US since the early 1970s. |
... |
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