The Italian government is closing all schools and universities as the country beefs up its measures to tackle COVID-19, with cases there rising to more than 2,500.

Italy has been the country worst-affected by the coronavirus outbreak in Europe. The schools and university shutdown starts on Thursday and will last until mid-March. 

Across Europe, plans are being put in place to combat the coronavirus as it continues to spread – Germany reported 44 new cases on Wednesday and Spain had its first death.

Italy's prime minister, Giuseppe Conte, is also set to unveil a range of new rules. People being asked to stay a meter apart is one of the new measures being considered, as well as advice not to share drinks and for elderly people to stay indoors or avoid public places.

There is also concern around Europe over fake claims and cures – Italian police have raided premises in Torino after sellers of bogus coronavirus antidotes were identified.

Business

It has been a calmer day on the markets following the US Federal Reserve's surprising decision to cut interest rates. European stock indices are showing small gains.

Curbs by the Indian government on drug exports have caused concerns in Europe that it could affect the pharmaceutical sector. India is the world's biggest supplier of generic drugs and the restrictions, apparently down to domestic shortages, could impact drugs such as paracetamol.

Airlines continue to be hit. Finnair is cutting flights due to the coronavirus outbreak and will open talks with unions about temporary staff layoffs.

The airline has stopped all flights to mainland China until 30 April, Milan from 9 March to 7 April and to Seoul from 9 March until 16 April. The carrier warned last month that it had suffered a big fall in profits so far this year due to coronavirus.

Meanwhile, the London Book Fair, a major event in the publishing industry calendar, which was due to be held from 10 to 12 March, has been cancelled.

^{CGTN's Guy Henderson outlines the advice to countries given by the WHO}

Sport

The Italian Cup football semi-final match between Juventus and AC Milan, due to be played in Turin on Wednesday, has been postponed. Sports events have been banned in the three Italian regions of Lombardy, Veneto and Emilia-Romagna.

Only four soccer matches in Italy's top league, Serie A, took place last weekend, while all Swiss top-flight matches have been suspended until 23 March.

Dozens of fans who watched a football match in Tel Aviv last week have been ordered to self-quarantine by Israeli authorities. A teenager in the crowd of away fans at the match between Maccabi Tel Aviv and Hapoel Tel Aviv was infected with coronavirus, Israel's health ministry confirmed.

Gianni Infantino, the president of football's governing body, FIFA, has also said that international matches could be cancelled this month.

He explained: "The health of people is more important than any football game and anything else. For the moment, it looks like it [the spread of COVID-19] is increasing. If games have to be postponed or played without spectators for a period of time until it's over, then we have to do that.”

Education

Italy's suggested measures to close schools and universities are the strongest yet in Europe.

Spain has three cases of children with coronavirus among the overall figure of more than 200 patients in the country. Currently, there are no plans to close schools due to the outbreak.

England's chief medical officer, Chris Whitty, said closures are not yet on the table for Boris Johnson's UK government and it would be a last resort. The advice at the moment is not to close schools, even where there has been a confirmed case among pupils.