Asda plans £65m price cut

Wal-Mart Stores Inc’s Asda Group, Britain’s second-largest supermarket chain, plans to cut another £65 million off prices of products ranging from gardening equipment to Vienetta ice cream as competition between British food retailers intensifies.

The reductions are the most wide-ranging discounts since Wal-Mart bought the company in 1999, Leeds, Asda said in a statement.