London (CNN Business) 1. Baidu slumps: Baidu (BIDU) just posted its first loss in 15 years as China's slowdown hit its online advertising business.

Disappointing earnings from the first three months of 2019 sent shares of the US-listed Chinese tech company tumbling more than 10% in premarket trading Thursday.

The company pointed to a "challenging environment" for online ad revenue, citing economic weakness in China and tighter regulation of internet content. That's hurt its core search business.

Tencent TCEHY Alibaba BABA China's economic growth has slumped to a near three-decade low in recent months, as the country grapples with an escalating trade war against the United States and tries to rein in high levels of debt. Rivalsand, which posted solid earnings this week, have fared better.

2. Pound punished: Brexit uncertainty is back on the menu in the United Kingdom, driving the pound down Friday below $1.28 to its lowest level against the dollar since January. It has also notched its longest string of losses against the euro since 2000, according to currency trading firm FXTM.