A supermarket price war on an unprecedented scale was under way last night with the prospect of permanent cuts in the cost of many basic foods. It was triggered as Morrisons announced discounts worth £1billion over the next three years in a bid to fight off budget rivals Aldi and Lidl. Asda responded immediately with an advertising campaign claiming to undercut Morrisons and promising big savings on major brands. Full story >>
A price war is a fierce competition in which retailers cut prices in an attempt to increase their share of the market. • The CEO of Sprint owner SoftBank said he'll start a "massive price war" if his company can purchase T-Mobile US.