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Trump said he had consulted "some of the world's top business leaders" on steps to create jobs and make business "even better". "That would allow greater flexibility & save money", he tweeted.

The SEC's chairman said the agency already is studying the issue.

One business leader asked him to move towards a system of reporting every six months, he said on Twitter". The Commissioners' offices did not immediately respond to a request for comment.

The president did not name the leaders. It's rare for presidents to make public demands of such regulators.

President Trump has instructed the American markets watchdog to investigate ending the quarterly reporting requirement for public companies that has been in place for almost 50 years.

In a statement Friday, Nooyi said her comments were part of a broader conversation about how to better focus companies toward long-term goals.

It "also subjects us to the quarterly earnings cycle that puts enormous pressure on Tesla to make decisions that may be right for a given quarter, but not necessarily right for the long-term", Musk said.

Publicly traded companies in the United States now file their earnings reports every three months, or four times a year. Some high-profile executives, including JPMorgan Chase chief executive Jamie Dimon, have recommended that companies stop providing Wall Street analysts guidance on what to expect from quarterly profits, for example.

Turkish lira volatile as USA warns of further sanctions
Last week, Washington doubled steel and aluminium tariffs on Turkey over its continued detention of U.S. pastor Andrew Brunson. Brunson, a 50-year-old evangelical pastor, faces 35 years in prison on charges of espionage and terror-related charges.

However feasible or likely the plan is, the tweet does represent the sort of business-minded approach that corporate America hoped it would get from having a former executive in the White House.

The proposal comes less than one year after the enactment of the Tax Cuts and Jobs Act.

"Investors and other stakeholders benefit when regulations ensure that important information is promptly and transparently provided to the marketplace", said Amy Borrus, CII's deputy director. It's unclear whether management at companies that report semi-annually take a longer-term investment strategy than management at companies reporting quarterly, said Salman Arif, a business professor at Indiana University who has studied the difference in reporting periods.

Publicly traded companies in the United States, as well as Canada, now file their earnings reports every three months, or four times per year.

"We are looking at that very, very seriously".

Trump has asked the Securities and Exchange Commission to study the impact of such a change.

"You're probably going to get a debate where you have people saying these reports are unnecessary, and I don't think that will convince a lot of people", said Martin, who's now a senior counsel at the law firm Covington & Burling.