Asda

Asda, the British supermarket arm of US retailer Wal-Mart, will spend a further £500 million ($1.04 billion) cutting prices, it said on Sunday, firing 2016's first shot in a price war that has raged for two years.

All of Britain's "big four" supermarket chains - market leader Tesco, Sainsbury's, Asda and Morrisons - have been cutting prices in an attempt to turn the tide after losing customers to discounters Aldi and Lidl.