What President Bloomberg would mean for big business

Your guide to how Washington shapes business and the economy

VIEW IN BROWSER | SUBSCRIBE MON, NOV 25, 2019 CNBC POLITICS EDITOR'S NOTE Hello,   So there you have it. Mike Bloomberg is finally, truly, actually running for president. And he clearly has a real chance of scrambling the Democratic field, even if he isn't bothering to compete in the four early nominating states in February.   What does Bloomberg bring to the race? He's a multibillionaire who can outspend everyone, including President Trump's fundraising juggernaut of a campaign, without tapping any donors. Wall Street loves him. He ran America's biggest city and the financial capital of the world for 12 years.   Supporters of Sens. Bernie Sanders and Elizabeth Warren would probably say his candidacy symbolizes what's wrong with the American political system and the economy. However, Bloomberg isn't exactly big business's best buddy. As Lauren Hirsch points out, as a philanthropist and a politician, Bloomberg has taken on the tobacco, sugary drink and gun industries. He is also behind a $500 million group advocating to get the U.S. on a path to a "100% clean energy economy." It's likely Bloomberg will stake much of his candidacy to these initiatives as he tries to win over skeptical liberals in the Democratic primary.    Here are some other stories we're keeping an eye on:   The impeachment inquiry into Trump is on pause for the moment after House Democrats wrapped up two weeks of public testimony. But Rep. Adam Schiff, chairman of the House Intelligence Committee, says he has plenty of evidence to keep moving.  Some of that evidence could well come from Lev Parnas, the indicted associate of Rudy Giuliani. And it might mean trouble for the ranking GOP member of the intel committee, Devin Nunes. Christina Wilkie reports that Parnas is prepared to tell Congress that Nunes aides hid Ukraine meeting arrangements from Schiff. The Pentagon fired Navy Secretary Richard Spencer, whom Trump appointed, over his handling of a case involving a Navy SEAL who had been convicted of posing for pictures with the corpse of an ISIS fighter.    Thoughts on Bloomberg 2020 or impeachment? Email me at CNBCPolitics@nbcuni.com.   Thanks for reading.    Have friends or colleagues who might like this newsletter? They can sign up here. For more on the intersection of business and politics, sign up for the weekly Capital Exchange newsletter here. Mike Calia @Michael_Calia KEY STORIES  Mike Bloomberg is running for president. These are the causes he supports and industries they would affect While Bloomberg has yet to deliver the full details of his platform, his 12-year run as mayor as well as active philanthropy in political causes provide good clues. Giuliani associate wants to testify that Nunes aides hid Ukraine meetings on Biden dirt from Schiff Lev Parnas would testify that aides to Devin Nunes scrapped a planned trip to Ukraine when they realized it would mean notifying Intelligence Committee chairman Adam Schiff. Pentagon fires Navy Secretary Richard Spencer after controversy over Navy SEAL case Spencer had reportedly threatened to quit his post after President Donald Trump intervened in the case of Navy SEAL Edward Gallagher. Bloomberg News will not investigate Mike Bloomberg or his Democratic rivals during primary "We will continue our tradition of not investigating Mike (and his family and foundation ) and we will extend the same policy to his rivals in the Democratic primaries. We cannot treat Mike's democratic competitors differently from him," wrote Bloomberg Editor-in-Chief John Micklethwait. Labor leader Richard Trumka calls Trump's comments about Pelosi and USMCA 'laughable' Trump predicted Nancy Pelosi would not approve the USMCA trade deal because the AFL-CIO's Richard Trumka "has her mortified." Iran faces its most critical moment since the 1979 Revolution It's unclear whether Iran will respond to this historic test, which includes Trump's maximum pressure, with more military escalation, diplomatic compromise – or a combination of both. Trump questions the downside of banning flavored e-cigarettes in heated meeting Trump raised his concern about the possible negative consequences of banning flavored e-cigarettes during a sometimes hostile meeting on Friday about finding ways to reverse an epidemic of teen vaping. Jeffrey Epstein scandal: Prince Andrew booted from Buckingham Palace, report says Prince Andrew has been ordered to move his private office out of Britain's Buckingham Palace, amid continuing fallout over his former friendship with the deceased sex offender Jeffrey Epstein.       Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2019 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS