Some business guru once said that companies that aren’t monopolies should pretend they are one, and companies that are monopolies should pretend they aren’t. Fortnite maker Epic Games has just convinced a jury that Google falls into the second category. I can’t wait for the rematch.

The lowdown

• 🎲 Hasbro is cutting 900 more jobs, taking total layoffs to 29% of its workforce.

• ✂️ Goldman Sachs now sees the Fed cutting rates as soon as July.

• 🇮🇳 India has overtaken Hong Kong to become the world’s seventh biggest stock market.

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Google loses monopoly case to Fortnite maker

Epic Games has won an antitrust case against Google after accusing the tech giant of monopolistic practices. The Fortnite maker said Google had been preventing users from accessing other ways of downloading apps outside its Play Store. Epic also challenged the commission of 15-30% that Google charges for in-app purchases.

The jury returned a unanimous verdict on all counts. It’s good progress for Epic, which challenged Apple in a similar way in 2021. There, the court ruled that Apple must ease in-app purchase rules but stopped short of calling for Apple to be designated an illegal monopolist.

Google said it would appeal the decision of its case, arguing it competes “intensely on price, quality, and security” against Apple's App Store.

The content we're consuming today

• WSJ: He might have been Pope. Instead, he may go to prison ($)

• Bloomberg: JPMorgan is in a fight over its client’s lost $50 million fortune ($)

• Insider: Elon Musk's luck has finally run out

Off-balance sheet items

• The World Cup of worst tweets is underway.

The bottom line