That's it from Business Live for today.

With the continuing confusion over the coronavirus outbreak we'll be taking a break for the moment, but you'll be able to keep up with all the important breaking business stories on our site.

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The BBC has announced plans to support the public during the coronavirus outbreak.

They include a new live series called Health Check UK Live on BBC One each day to address concerns of those in isolation.

It will also aim to broadcast a virtual church service live on Sunday morning each week. And the BBC Food website will provide recipes for those with access to only the bare essentials.

If schools are closed by the government, the BBC says it could provide a daily education television programme for different age groups that students can follow.

Some more massive drops again today for shares.

The biggest faller in the FTSE 100 was cruise company Carnival.

It lost more than a third of its value - 34.22% - to fall to 620p. In mid January it stood at 3,114p.

Aerospace giant Meggit fell a quarter to 238,40p, while the Ashtead Group fell 23.30% to 1,300p.

The blue-chip index closed down 4.05%, after losing 214.32 points, at 5,080.58.

The wider FTSE 250 lost 6.58%, or 916.69 points, to fall to 13,008.19

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Tesco has become the latest supermarket to impose restrictions.

All customers will be able to buy a maximum of three products per line from Thursday, as it copes with the high demand from the coronavirus pandemic, the company has announced.

Boss Dave Lewis added all counter services will close, to free up staff to restock shelves, and a priority hour will be launched at larger stores between 9am and 10am every Monday, Wednesday and Friday.

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Facebook has said that a software issue was responsible for posts on topics including coronavirus being wrongly marked as spam last night.

The social media giant's head of safety said: "This is a bug in an anti-spam system."

The statement was in response to widespread complaints from Facebook and Instagram users.

It came a day after the firm said contract workers who review content would be sent home due to the outbreak.

Read more here

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London is facing a lockdown, possibly before the weekend, as Boris Johnson prepares sweeping new measures — including school closures — to tackle the rapid spread of the coronavirus, the FT is reporting.

A decision on whether to lock down London — similar to the shutdown in force in cities such as Paris and Brussels — would be based on the latest advice presented to the Cobra emergency committee, which has its latest meeting on Wednesday afternoon.

Restrictions could include the closure of public transport, with pharmacies or supermarkets among the only outlets to remain open.

Image source, PA Media

Honda has become the latest major car manufacturer to suspend production in the UK due to the coronavirus outbreak.

Its Swindon plant will cease operations after today’s late shift and will not resume car building until at least 6 April.

Nissan, Toyota, BMW and Vauxhall have also suspended production in the UK amid falling sales and concerns about parts supply.

Andrew Walker
World Service economics correspondent

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The International Labour Organisation has warned the coronavirus crisis could lead to a rise in global unemployment of almost 25 million.

In a new report the ILO, which is a United Nations agency, also says that if there is an international coordinated policy response, the impact could be significantly lower.

The ILO says prospects for the global economy and employment in particular are deteriorating rapidly.

It says there are worrisome signs of a global recession. It warns that unemployment could rise by close to 25 million, which is more than the increase caused by the global financial crisis a decade ago.

The report says that underemployment - people working fewer hours than they want - is also expected to increase on a large scale.

The ILO calls for governments to take large scale coordinated efforts to provide employment and support incomes.

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"I am a GP and Specialist Functional Medical Practitioner," writes Dr Meeta Tanna.

"The fact that Canned food, toxic chemicals and hand sanitisers are out of stock but fresh fruit, vegetables and herbs are fully-stocked, shows that humans have no idea how the immune system works."

There was a moment there - as you can see from our graph above - when the FTSE 100 like it might recover some of today's losses.

But it's slipped downwards again and is now down 4.21%.

However, it does look likely to remain above the 5,000 level today. Possibly!

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New Bank of England chief Andrew Bailey has told businesses to “stop, look at what’s available, come and talk to us, talk to the government before you take that position”.

His wanring was aimed at firms thinking of laying off workers because of the economic impact of the coronavirus crisis.

There would be “important discussions” between companies and the Treasury, he said, and the message to them was “supporting the employment and income of the people in this country .. is critical”.

Read the full story here.

Chancellor Rishi Sunak said he didn't believe that bailouts similar to those seen around the 2008 crash were necessary.

He said: "It’s worth emphasising the resilience of the banking system is actually very strong, thanks to the steps taken around the financial crisis.”

He added: "On all of the stress tests that the Bank of England is running as well, the possible scenarios being sketched out are worse than those currently.”

"The health of the banking sector is good, and that is so important because that is the lubrication for other businesses doing well, as we found out last time around," Mr Sunak said.

Tom Burridge
Transport correspondent

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Contingency plans are being made by Government, Network Rail and operators to ensure that vital journeys are still possible.

Certain train lines, which are deemed essential for emergency workers, could be prioritised. Freight could be given priority in places too.

The situation is so fast-moving that the detail of these plans is being worked-out day-to-day.

One option is to introduce something similar to a normal Sunday service on every day of the week.

Yesterday, the Transport Secretary Grant Shapps told MPs that services would be reduced in the short-term “to ensure we don’t effectively run ghost trains.”

The most pressing problem for train companies and Network Rail is staff shortages, as train drivers or signal-operators self-isolate or call-in sick.

More here

One MP at the Treasury Select Committee raises the possibility of small businesses not being able to pay back loans made available by the new Chancellor due to the coronavirus pandemic.

Labour MP Alison McGovern quoted the restaurant owner of Lunya in Liverpool, Peter Kinsella, saying: "They employ 100 people. He says that if if they take out a loan, they'll never be able to pay it back no matter what. It's lost income to them, while they know they will be closed for months. They don't know if they'll be able to open again."

She added: "This is the most serious point to business owners like Peter Kinsella. Loans are for deferred income - not loss of income. Small businesses, like Peter's need grants."

Rishi Sunak defends the newly-introduced programme, saying that the loans are available over a "long-term basis" but adds that he will keep the situation under review.

More from Chancellor Rishi Sunak in front of the Treasury Select Committee.

From hotels to cafes, companies across the hospitality industry have been warning that their long-term survival is under threat due to the coronavirus pandemic.

On Tuesday the Chancellor said he was extending the business rates holiday to all firms in the hospitality sector and funding grants of between £10,000 and £25,000 for small businesses.

He told the committee: "We very much acknowledge what is going on in the hospitality sector, that’s why we’re applying the business rates holiday to the whole sector.

"Given the scale of what’s happening, we’ve extended that discount at a cost of about £11bn. That would benefit businesses other than just small ones.”

Read more on the impact of the outbreak so far on the sector here.

Back to the row about supermarkets and what they stock. Earlier Business Live reader Andy suggested they should stop stocking niche products and only focus on essentials.

The idea didn't sit well with two readers.

John Staton of Scarborough writes: "One thing that has helped my wife and I is that, due to her intolerances, we are looking for gluten-free pasta and soya milk, of which there seems to be enough. To replace these items with the stuff Andy is looking for will just victimise anyone whose needs are not standard."

Jack Taylor has a similar view. "My wife and I are vegan and have had no trouble at all getting the products we need. Yes more people are trying oat milk and chickpeas are being rationed but everything else we eat is fine and readily available (apart from tinned tomatoes but fresh ones are fine). Just because the masses panic buy white rice, white bread, white flour and cheap pasta doesn’t mean I should be be able to buy my rye flour, pea or lentil pasta or puy lentils.

"Maybe if people shopped a little more conscientiously in the first place this wouldn’t happen."

After announcing his package of financial measures to shore up the economy against the coronavirus impact, new Chancellor Rishi Sunak told the Treasury Select Committee there was still much more to do.

It includes £330bn in loans, £20bn in other aid, a business rates holiday, and grants for retailers and pubs. He said help for airlines is still being considered.

Mr Sunak said: "We're looking at potential measures to meet the targets that we set, which are to provide cashflow support to businesses and try to preserve employment."

He added: "As the scale of what we're grappling with increases, then you are left to look at more macroeconomic, economy-wide solutions anyway."

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IWGB, a trade union for gig economy workers, says the hardship fund – announced last week by Deliveroo to support its riders - is “unworkable”.

The IWGB points out it’s currently not possible to access any extra support because delivery riders not at work due to coronavirus are supposed to supply a sick note. But if you fall ill or self-isolate you are asked not to go to your GP to get one.

This same obstacle applies across the board to anyone reliant on proving why they are off work in order to access sick pay or support, not just Deliveroo riders. Another union, UPHD, made a similar point about Uber drivers earlier today.

The government has promised that NHS 111 will be able to issue sick notes but the service is not yet up and running.

Deliveroo says it is committed to providing financial support for its riders diagnosed with the virus or who are told to be in isolation by a medical authority.

Chancellor Rishi Sunak is currently giving evidence to the Treasury Select Committee.

He says the UK economy should bounce back from the coronavirus: "We still believe that we should be able to recover strongly at the other side".

He added the government is looking at "every conceivable tool at our disposal, as we speak" to help support people and firms.