Sunday Times: “Michael Bloomberg, the former three-term mayor of New York, who was last year given an honorary knighthood by the Queen for his ‘prodigious entrepreneurial and philanthropic endeavors’ in the UK, is now being urged to cross the Atlantic for good and become the mayor of London. Friends of Bloomberg, 73, have revealed that he is ‘considering’ standing in 2016 as a Tory candidate in succession to Boris Johnson.”

“Michael Bloomberg’s $40 million spending splurge on politics for this year’s election taught him a lesson for 2016: You get a much better bang for your buck by trying to tip state and local elections than high-profile federal ones,” Politico reports.

“So as the former New York mayor turned activist for gun control, healthier food choices, education reform, and other issues makes his spending plans for the next two years, he plans to weight his contributions more toward ballot measures, governor and school-board candidates, and away from House and Senate races, which have become glutted with outside money.”