J. Scott Applewhite / AP

House Speaker Paul Ryan says the House Republican lawsuit against Obamacare's cost-sharing reduction subsidies will go forward, but that the Trump administration can use its "discretion" to keep paying the subsidies until the lawsuit is resolved. "We don't want to drop the lawsuit because we believe in the separation of powers," Ryan told reporters this morning at his weekly press briefing.

Why it matters: Insurers say they need those payments — which cover subsidies for low-income Obamacare customers — to stay in the marketplaces for next year. Ryan said that's up to the Trump administration: "While the lawsuit is being litigated, then the administration funds these benefits. That's how they've been doing it, and I don't see any change in that."

When might that change? Ryan said it could take "months." The Trump administration still has to decide whether to stop fighting the lawsuit. The ideal way to address the payments, Ryan said, is "to repeal and replace Obamacare, and have that transition occur where these markets are stabilized." And where is that? Nowhere, per Jonathan Swan.

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Ford names James Farley as new CEO amid ongoing turnaround effort

James Hackett, left, is retiring as Ford CEO. Jim Farley, right, takes over Oct. 1. Photo: Ford

Ford announced Tuesday that James Farley will take over as its next CEO, replacing James Hackett, 65, who is retiring after three years in the job.

Why it matters: It leaves Farley to complete the company's ongoing turnaround effort. The transition will be that much harder as the industry tries to navigate the coronavirus-induced economic slowdown which shuttered Ford plants for two months on the eve of some of its most important vehicle launches.

Updated 3 hours ago - Politics & Policy

Watch the full "Axios on HBO" interview with President Trump

In this episode of “Axios on HBO”, President Trump discusses his handling of the coronavirus pandemic, the upcoming election and much more with National Political Correspondent Jonathan Swan.

The interview was filmed on Tuesday, July 28 and aired Monday, Aug. 3 on HBO.

Mergers and acquisitions make a comeback

Illustration: Sarah Grillo/Axios

A slew of high-profile headlines led by Microsoft's expected acquisition of social media video app TikTok helped bring the Nasdaq to another record high on Monday.

Why it matters: The mergers-and-acquisitions market looks like it's bouncing back, joining the revived credit and equity markets as well as the market for new public companies through IPOs and special purpose acquisition companies (SPACs).