Dec 5, 2018

Bloomberg says he'll sell his company if he becomes president

Michael Bloomberg. Photo: Bill Pugliano/Getty Images

Billionaire and media mogul Michael Bloomberg said in an interview with Radio Iowa that he will likely sell his media company, or put it in a blind trust, if he runs for and becomes president in 2020.

Why it matters: Bloomberg cited his age as one of the prevailing reasons why selling the company makes sense. In doing so, he would also be avoiding the same controversies that President Trump has seen with the Trump Organization during his term in office.

Between the lines: Trump chose to hand his organization off to his children during his presidency, but that has not prevented questions from swirling about potential benefits it has received stemming from his role.

  • The organization is currently involved in a lawsuit that alleges it has benefited from Trump's presidency.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 11 a.m. ET: 883,225 — Total deaths: 44,156 — Total recoveries: 185,377Map.
  2. U.S.: Total confirmed cases as of 11 a.m. ET: 189,753 — Total deaths: 4,090 — Total recoveries: 7,141Map.
  3. Axios-Ipsos Coronavirus Index: It's "a tale of two Americas" as the rich are more likely to work from home and the poor are more likely to report to work.
  4. Federal government latest: President Trump said the next two weeks would be "very painful," with projections indicating the virus could kill 100,000–240,000 Americans.
  5. State updates: Washington and California appear to have slowed their surges of new cases — Florida cases have been doubling the past four days, approaching 7,000.
  6. NYPD: Over 1,400 of its employees have reportedly tested positive for COVID-19.
  7. What should I do? Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

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Private equity hits the brakes amid coronavirus recovery uncertainties

Illustration: Rebecca Zisser/Axios

Private equity is still working on opportunistic deals when it can get a break from portfolio triage, but it's also boarding up the exits amid new questions about the speed of the coronavirus recovery.

The state of play: Sale processes are being shelved daily, even ones that already launched with investment bankers, data rooms, and interested suitors.

China's medical diplomacy is empowering euroskeptic leaders

Illustration: Aïda Amer/Axios

The Chinese government has embarked on a highly publicized campaign to provide vital medical supplies to European countries as they fight coronavirus outbreaks within their borders.

Why it matters: Those efforts — and the perception that the European Union has done little to help — are providing fodder for politicians who are eager to hail China and criticize the EU. EU leaders may now have to worry about both Chinese and Russian overtures that weaken European unity.

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