EU Strikes Compromise On Quarterly Earnings Reports

Jan. 13, 2005
By Agence France-Presse The European Union on Nov. 25 agreed to a watered-down proposal designed to boost corporate transparency, stopping short of forcing companies to report earnings every three months. The quarterly requirement had been proposed by ...
By Agence France-Presse The European Union on Nov. 25 agreed to a watered-down proposal designed to boost corporate transparency, stopping short of forcing companies to report earnings every three months. The quarterly requirement had been proposed by the European Commission -- the EU's executive arm -- to give investors greater insight into companies' performance. But several member states led by Britain, by far Europe's biggest financial center, said the measure would be a costly piece of extra red tape at a time when the EU is trying to lighten the regulatory load on business. Instead, the compromise agreed by EU finance ministers will require companies to issue a trading statement every quarter that does not have to go into such comprehensive detail as an earnings report. The compromise was pushed by Britain with the support of Austria, Belgium, Denmark, Ireland, Luxembourg and the Netherlands, diplomats said. Under the deal, the Commission will review the situation in five years to see if greater transparency is required. The requirement for quarterly earnings reports would have brought the EU in line with corporate practice in the United States. According to the European Commission, about 2,000 of Europe's 7,000 listed companies already publish quarterly reports. The directive "rightly wants to see greater transparency for investors but also involves costs for business," British Chancellor of the Exchequer Gordon Brown said earlier this month. Copyright Agence France-Presse, 2003

Popular Sponsored Recommendations

How to Build Zero-Cost On-Site Solar and Storage Projects

Nov. 25, 2023
The Inflation Reduction Act offers tax credits, incentives, and financing that enable no-cost projects. In Enel’s eBook, discover the critical role that incentives play in your...

3D Printing a More Efficient Factory Floor

Nov. 16, 2023
Today’s additive manufacturing platforms make it simple to print a wide range of high-performing industrial parts as soon as possible and right where you need them — unlocking...

Process Mining For Dummies

Nov. 19, 2023
Here it is. Everything you need to know about process mining in a single book, written in the easy-to-understand, hard-to-forget style that ‘For Dummies’ manages so effortlessly...

Turning Your Frontline Workforce into a Competitive Advantage: A Comprehensive Guide

Sept. 19, 2023
In this guide, we'll explore how manufacturers are using digital technologies to preserve the bottom line and maintain growth by enabling and empowering their #1 asset - their...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!