The Bank of England (BOE), the UK's central bank, cut interest rates by 0.5 percentage points on Wednesday morning as part of an emergency response to the coronavirus, or COVID-19.
A lawmaker who says Brazil is not doing enough to fight rampant political corruption put forward a bill on Tuesday that would punish any politician convicted of the graft with amputation of both hands.
The National Basketball Association has announced that it will suspend all games after Wednesday night until further notice, following a player on the Utah Jazz testing positive for COVID-19. “The NBA will use this hiatus to determine next steps for moving forward in response to the coronavirus pandemic,” the association said in a statement.
Paraguay confirmed that five cases have tested positive to Covid-19, and announced it was closing all schools and universities, public and private, and suspending all public and private activities that involve crowding people, for the next fifteen days.
The Government of the Falklands updated its advice on travelling to the Islands, in response to a further change in the global COVID-19 situation. The Italian Government this week announced emergency measures across the entire country in response to the virus.
The Uruguayan government announced on Tuesday that it was withdrawing from the Union of South American Nations, Unasur and returning to the Inter-American Treaty of Reciprocal Assistance, TIAR.
Brazil President Jair Bolsonaro minimized the threat of the new coronavirus - which has killed nearly 4,000 people in more than 60 countries and tanked global financial markets, saying its destructive power has been “overstated”.
Venezuelan riot police fired tear gas on Tuesday to break up a demonstration in Caracas called by opposition leader Juan Guaido as he seeks to ramp up demands for elections to replace populist President Nicolas Maduro.
Oil, which plunged about 25% on Monday, rebounded on Tuesday along with equities and other financial markets. Brent futures rose US$2.69, or 7.8%, to US$37.05 a barrel by 2:24 p.m. EDT (1824 GMT), while U.S. West Texas Intermediate (WTI) crude rose US$2.73, or 8.8 percent, to US$33.86.
Brazil's far-right president Jair Bolsonaro called on his backers to take to the streets next weekend to show their support for him, even as critics said such a demonstration would be anti-democratic.