The billionaire former Mayor of New York, Michael Bloomberg, has confirmed he is considering running as an independent candidate for the US Presidency.

He told the Financial Times he was looking at all the options. His aides told US media last month he was eyeing a bid but this is the first time he has acknowledged he may run. Last month the unnamed advisers said he had been alarmed by the increasingly polarised nature of the race.

Donald Trump remains front runner to be Republican party nominee, while Democrat favourite Hillary Clinton is facing a strong challenge from self-declared socialist Bernie Sanders.

No third-party candidate has ever won a US presidential election.

Mr Bloomberg was a Democrat before turning Republican in 2001, then later becoming an independent.

According to the BBC, despite pro-business views, his liberal stance on issues such as gun control and abortion mean that an independent bid from Mr Bloomberg would be most damaging to the Democrats.