Former New York City Mayor Michael Bloomberg officially announces presidential run

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Former New York City Mayor Michael Bloomberg formally announced he is running for president, The Associated Press reported Saturday.

Bloomberg wrote a letter on his campaign website, laying out a more moderate vision for the country, calling himself as "a doer and a problem solver -- not a talker."

"I’m running for president to defeat Donald Trump and rebuild America," Bloomberg wrote on his website.

This is a developing story.