The world's biggest spirits maker Diageo says it will take a £200 million hit to profits from the coronavirus outbreak as much of its Asian market goes into lockdown.

Trade has been affected in China, South Korea, Japan and Thailand as events have been postponed, conferences and banquets cut and tourism has dropped off. Sales in airports have also been impacted by a fall in the number of people travelling.

Ian Guider, markets editor of The Business Post, joined us for our daily business update to discuss this story and more, including:

• Ireland still facilitating multinational tax avoidance, Commission says
• Permanent TSB reports a rise in profits
• Profits at Glanbia are down
• The chief executive of Disney Bob Iger is leaving the company after 15 years in charge in which he bought Marvel and Star Wars

Listen to the interview in full by pressing the play button on this page.