Michael Bloomberg considers White House bid

The White House

Michael Bloomberg, former mayor of New York and owner of the global media group that shares his name, has said he is considering entering the race for US President.

When asked whether he would pursue a nomination, Bloomberg told the Financial Times he was "looking at all the options".

"I find the level of discourse and discussion distressingly banal and an outrage and an insult to the voters," he added.

The news comes as property magnate and Apprentice star Donald Trump dominates the Republican race, and Bernie Sanders and Hilary Clinton battle it out for the Democratic nomination.

Bloomberg has expressed an interest in running for office in previous presidential elections, and last year speculation mounted that he was preparing to announce a bid to stand as the Tories' candidate for mayor of London.

He also publicly backed David Cameron during the 2015 General Election, saying: "David Cameron's gutsy decisions and strong leadership have helped the UK economy emerge from the global recession in far better shape than the rest of Europe."

Bloomberg splashed out £16m on a Chelsea mansion last year, and has previously called London his "second home", which could do wonders for the special relationship if he does end up running for the White House.

Full story: Michael Bloomberg considers White House bid: City A.M.