Michael Bloomberg reportedly planning to enter Democratic presidential primary

Former New York City Mayor Michael Bloomberg is reportedly planning to file paperwork to enter the Democratic presidential primary in Alabama by Friday.

The billionaire has been weighing a bid for weeks, a Bloomberg adviser told The New York Times on Thursday, and he has not yet made a final decision on whether to launch a full-fledged campaign. Alabama has an early filing deadline to enter the race. The adviser said Bloomberg feels "the current field of candidates is not well positioned to" defeat Trump.

Bloomberg is a moderate Democrat who ran for mayor as a Republican and later became an independent. Experts say he would be capable of raising money quickly and could be a threat to former Vice President Joe Biden's candidacy.

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