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| - Here are the latest developments in the coronavirus crisis. Beijing urges its residents to not leave the city and closes schools again as authorities seek to contain a "severe" new coronavirus outbreak in the capital of 21 million people. The moves come after China reports 27 new infections in Beijing where a new cluster linked to a wholesale food market has sparked fears of a second wave. But British researchers offer some better news, hailing a potential "major breakthrough" with the steroid dexamethasone, which has been found to save the lives of one-third of seriously ill patients in clinical trials. Federal Reserve Chair Jerome Powell says that "significant uncertainty" remains about the recovery of the US economy from the pandemic and there will be no recovery unless the public is confident the virus is defeated. The pandemic has killed at least 438,250 people worldwide since it surfaced in China late last year, according to an AFP tally at 1900 GMT Tuesday, based on official sources. The United States has the most deaths with 116,567 followed by Brazil with 43,959, Britain with 41,969, Italy with 34,405 and France with 29,547 fatalities. The United States agrees to keep its borders with Mexico and Canada closed until July 21, extending restrictions for a third time because of the pandemic. Russia's industrial output fell by 9.6 percent in May compared to same month the previous year, the state statistics agency says, adding that coronavirus restrictions played the biggest role in the drop. Swedish truckmaker Volvo, one of the world's largest, says it will slash 4,100 white-collar jobs, saying the pandemic and measures to curb the spread of the new coronavirus had "led to a market situation impacting our industry severely." The US Open tennis championships will go ahead as scheduled from August 31 to September 13 but without spectators. burs-fm-jmy/pma
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