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Oil surged on Thursday amid signs that producers are cutting production to weather a collapse in demand as the coronavirus outbreak ravages world economies, while the U.S. state of Oklahoma also moved to help oil firms pump less.

South Korea's Hyundai Motor Co said on Thursday first-quarter net profit slumped 44% to its lowest level for the quarter in a decade, as the coronavirus hit demand in China and due to losses at its financial business.

Aston Martin said on Thursday it plans to restart its St Athan factory in south Wales on May 5 and will also resume operations at Gaydon later, after the coronavirus-led shutdowns forced the luxury car maker to suspend production at both sites.

Sweden's AB Volvo on Thursday warned of weakening truck demand despite reporting a smaller-than-expected fall in quarterly operating earnings helped by service sales.

Zoom Video Communications Inc said on Wednesday it was upgrading the encryption features on its video conferencing app to quell safety concerns as its users surged by 50% in the past three weeks.

Air France-KLM must scrap all of Chief Executive Ben Smith's bonus payments for this year if it wants to secure state aid, Dutch Finance minister Wopke Hoekstra said on Thursday.

Asian stock markets rose on Thursday as the combination of a rebound in crude prices from historic lows and the promise of more U.S. government aid to cushion the coronavirus-ravaged economy helped calm nervous markets.

The dollar erased gains and fell against the currencies of oil producers on Thursday, as a rebound in crude prices after an unprecedented collapse helped to calm markets unnerved by the massive coronavirus-led drop in global demand.

French carmaker Renault on Thursday posted a 19.2% drop in first-quarter revenue to 10.13 billion euros ($10.97 billion), and said it was still too early to assess what impact the coronavirus crisis would have on its earnings this year.

Sweden's AB Volvo reported a smaller-than-expected fall in quarterly operating earnings on Thursday as service sales held up in the face of tumbling sales and orders of its trucks as demand evaporated in the face of the coronavirus.

South Korea's Hyundai Motor Co said on Thursday first-quarter net profit slumped 44% to its lowest level for the quarter in a decade as the spreading coronavirus outbreak hit demand for cars worldwide.

The United Auto Workers (UAW) said late Wednesday discussions are still underway with Detroit's Big Three automakers to safely restart U.S. production halted by the coronavirus pandemic.

South Korean automaker Kia Motors plans to suspend operations at two of its domestic factories from April 27 to May 10 and again between May 22 to 25, a union official said on Thursday.

The dollar edged higher against the currencies of oil producers on Thursday as a rebound in crude prices from an unprecedented collapse only partially calmed markets unnerved by the massive coronavirus-led drop in global demand.

Oil extended gains on Thursday amid signs that producers are cutting production to cope with a collapse in demand for fuel as the coronavirus outbreak ravages the world's economies.

The United States wants to curb its reliance on China for specialized minerals used to make weapons and high-tech equipment, but it faces a Catch-22.

The U.S. government is planning to fund domestic rare earths projects in an attempt to reduce its reliance on China, the global leader of the specialized sector.

U.S. Treasury Secretary Steven Mnuchin warned on Wednesday that companies that received coronavirus rescue money intended for small businesses could be investigated if it appears they did not really need the money.

Apple Inc is planning to fix a flaw that a security firm said may have left more than half a billion iPhones vulnerable to hackers.

The dollar pushed ahead against the currencies of oil producers on Thursday as a rebound in crude prices from an unprecedented collapse only partially calmed markets unnerved by the massive coronavirus-led drop in global demand.