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Bloomberg to spend $100 million to help Biden win Florida

Billionaire Mike Bloomberg plans to spend at least $100 million to help Joe Biden win Florida in November's election, the Washington Post reports.

Why it matters: Taking Florida would be a knockout blow for Biden, who could then win the election outright simply by retaining all the states that Hillary Clinton won in 2016. He would not have to defeat President Trump in swing states Michigan, Pennsylvania, Wisconsin, North Carolina or Arizona, per the Post.


The big picture: Cook Political Report on Thursday shifted its prediction for Florida from "leans Democratic" to "toss up," after a number of polls showed the race tightening. Some Biden advisers have expressed concern about his soft support among Hispanic voters, who make up more than 20% of the electorate in Florida.

What they're saying: "Voting starts on Sept. 24 in Florida so the need to inject real capital in that state quickly is an urgent need,” Bloomberg adviser Kevin Sheekey told the Post. "Mike believes that by investing in Florida it will allow campaign resources and other Democratic resources to be used in other states, in particular the state of Pennsylvania."

Go deeper: Bloomberg group warns Trump will appear to win big on Election Night before mail-in ballots are counted

DOJ watchdog to probe whether officials sought to improperly alter election results

The Justice Department's inspector general will investigate whether any current or formal DOJ officials "engaged in improper attempt to have DOJ seek to alter the outcome," the agency announced Monday.

Driving the news: The investigation comes in the wake of a New York Times report that alleged that Jeffrey Clark, the head of DOJ's civil division, had plotted with President Trump to oust acting Attorney General Jeffery Rosen in a scheme to overturn the election results in Georgia.

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Biden signs order overturning Trump's transgender military ban

President Biden signed an executive order on Monday overturning the Trump administration's ban on transgender Americans serving in the military.

Why it matters: The ban, which allowed the military to bar openly transgender recruits and discharge people for not living as their sex assigned at birth, affected up to 15,000 service members, according to tallies from the National Center for Transgender Equality and Transgender American Veterans Association.

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GOP Sen. Rob Portman will not run for re-election, citing "partisan gridlock"

Sen. Rob Portman (R-Ohio) announced Monday he will not run for a third term in the U.S. Senate in 2022, citing "partisan gridlock."

Why it matters: It's a surprise retirement from a prominent Senate Republican who easily won re-election in 2016 and was expected to do so again in 2022.

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Merger Monday has been overrun by SPACs

Five companies this morning announced plans to go public via reverse mergers with SPACs, at an aggregate market value of more than $15 billion. And there might be even more by the time you read this.

The bottom line: SPAC merger activity hasn't peaked. If anything, it's just getting started.

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Moderna says vaccine appears to protect against new COVID-19 variants

Moderna's COVID-19 vaccine is effective against new variants of the virus that first appeared in the U.K. and in South Africa, the company announced on Monday.

Yes, but: The vaccine was as effective against the strain from U.K., but saw a six-fold reduction in antibodies against the South Africa variant. Even still, the neutralizing antibodies generated by the vaccine "remain above levels that are expected to be protective," according to the company.

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Xi Jinping warns against "new cold war" in Davos speech

Chinese President Xi Jinping warned that a "new cold war" could turn hot, and must be avoided, in a speech on Monday to at World Economic Forum’s virtual “Davos Agenda” conference.

Why it matters: Xi didn't refer directly to U.S.-China tensions, but the subtext was clear. These were his first remarks to an international audience since the inauguration of President Biden, whose administration has already concurred with Donald Trump's determination that China is committing "genocide" against Uyghur Muslims, and issued a warning about China's aggression toward Taiwan.

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MyPillow CEO Mike Lindell moves the goalposts on a run for Minnesota governor — again

The will-he-or-won't-he speculation surrounding a possible gubernatorial run by MyPillow CEO Mike Lindell is destined to continue at least a bit longer.

What he's saying: Lindell told Axios that his focus is currently on proving his (baseless) claims of election fraud. He won't make a decision until that fight is resolved.

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Wall Street pencils in virus variants as latest economic risk

Wall Street is pinning its bets of an economic rebound this year on mass vaccinations and a virus brought under control, but new coronavirus strains threaten that sunny outlook, a number of firms are warning.

Why it matters: None downgraded growth forecasts because of the variants, but they’re acknowledging there’s a new asterisk to the anticipated economic recovery.

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