Bloomberg says will not run for White House

US billionaire Michael Bloomberg announced Monday that he would not throw his hat into the volatile race for the White House, fearing that his candidacy could lead to the election of Republican usurpers Donald Trump or Ted Cruz. The 74-year-old former New York mayor has long considered an independent run for the White House, expressing public dismay about a 2016 race dominated by the insult-flinging Trump, the current Republican frontrunner.