Here are five things you must know for Friday, Oct. 13:
3. -- Donald Trump moved late Thursday, Oct. 12, to cut off subsidies to health insurers under the Obama-era Affordable Care Act.
The Department of Health and Human Services made the announcement in a statement late Thursday. "We will discontinue these payments immediately," said acting HHS Secretary Eric Hargan and Medicare administrator Seema Verma.
The White House said in a separate statement that the government cannot legally continue to pay the so-called cost-sharing subsidies because they lack a formal authorization by Congress.
Halting the payments is likely to trigger a spike in premiums for next year, unless Trump reverses course or Congress authorizes the money. The next payments are due around Oct. 20, according to the Associated Press.
House and Senate Democratic leaders Nancy Pelosi of California and Chuck Schumer of New York denounced the plan and California's attorney general said the state was "prepared to sue."
Ending the subsidies could hurt shares of insurers such as Anthem Inc. (ANTM) , Molina Healthcare Inc. (MOH) , Cigna Corp. (CI) and Centene Corp. (CNC) , which are offering plans on Obamacare markets for 2018, Reuters noted.
4. -- Amazon.com Inc. (AMZN) suspended Roy Price, the head of its programming division, following allegations of sexual harassment as the fallout from the firing of Hollywood super producer Harvey Weinstein continues to engulf the film industry.
Amazon said late Thursday that Price was put on an immediate leave of absence after a producer said that he harassed her in the back of a cab in San Diego.
Isa Hackett, a producer on the show "The Man in the High Castle" and daughter of author Philip K. Dick, told The Hollywood Reporter that Price made inappropriate sexual comments to her following an appearance at Comic-Con in 2015.
She said that she reported the incident to Amazon executives at the time.
"We take seriously any questions about the conduct of our employees," Amazon told The Hollywood Reporter. "We expect people to set high standards for themselves; we encourage people to raise any concerns and we make it a priority to investigate and address them. Accordingly, we looked closely at this specific concern and addressed it directly with those involved."
5. -- Samsung Electronics (SSNLF) , Apple Inc.'s (AAPL) chief rival in the smartphone space, said another of its top executives was leaving the company just hours after it forecast record profit on the back of surging demand for its memory chips and smartphones.
Kwon Oh-Hyun, the group's vice president and heir apparent to the incarcerated former chairman, Jay Y. Lee, will step down after more than three decades at the world's second-biggest smartphone maker to make room for what he called "a new spirit and young leadership."
"We are fortunately making record earnings right now, but this is the fruit of past decisions and investments; we are not able to even get close to finding new growth engines by reading future trends right now," Kwon said in a statement Friday. "As we are confronted with unprecedented crisis inside out, I believe that time has now come for the company start anew, with a new spirit and young leadership to better respond to challenges arising from the rapidly changing IT industry."
Kwon, who has been Samsung's vice chairman since 2012, will retire next March, the company said. His departure comes as Lee, the son of the company's de-facto founder, is appealing a five-year sentence for bribery and corruption in a nationwide scandal that ultimately toppled the country's first woman president, Park Geun-hye, late last year.
This story has been updated from 6:03 a.m. ET.
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