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White House says it can't lawfully pay Obamacare subsidies

President Donald Trump will stop payments worth billions of dollars to health insurers to subsidize low-income Americans, the White House said on Thursday, a move health insurers have warned will cause chaos in insurance markets and a spike in premiums.

Reuters Top 100: The World's Most Innovative Universities - 2017

Tiger economies and competition from China will undoubtedly be forces to reckon with, but anyone looking to find the most influential research leading to the most transformative technologies should look West, not East. That’s the conclusion of Reuters’ annual ranking of the World’s Most Innovative Universities, a list that identifies and ranks the educational institutions doing the most to advance science, invent new technologies and power new markets and industries.

Business Watch: Fed gives big banks the nod

Tech behemoth Amazon is charging $2.8 million for ad packages that include the 10 Thursday night NFL games it will livestream this season as the retail giant makes its first high-profile push into live sports. A trip to Whole Foods before the game is recommended.

Business Watch: For bets on China, not Mexico

Ford said it will move some production of its Focus model to China, suggesting the world's second-largest economy - and not Mexico - could play a much larger role in future vehicle production for North America. Back in January, U.S. President Trump had slammed Ford for shipping small-car manufacturing to Mexico.

Business Watch: Amazon's blockbuster deal

E-commerce behemoth and the world's largest retailer Amazon extended its reach into the real world stores by acquiring upscale grocer Whole Foods for a whopping $13.7 billion.

Business Watch: Ripping out a nuclear reactor's heart

After a second trading day of rout in the technology sector, investors were trying to decide whether the sell-off was limited to tech stocks or the sign of a broader market malaise. Some took comfort in the fact that, rather than totally abandoning equities, some were rotating into value sectors of the market.

Business Watch: Apple falls, Pandora gets cash infusion

But investors liked the nearly half a billion dollar cash infusion that struggling satellite streaming company Pandora got from Sirius XM Holdings. Reuters first reported that Sirius was looking to invest in Pandora after their merger negotiations fell apart.

Business Watch: Out with the old?

Shares of ShotSpotter, a company that uses gunfire-specific sensors to alert authorities and customers of gun-related incidents, shot up (pun intended) a dazzling 21 percent in their market debut on Wednesday. The California-based firm generates most of its revenue from contracts with the police departments of major cities in the United States.