(In UK) Price War Heats Up: Tesco Cuts £500m in Costs

Tesco has announced plans to cut an additional £500 million in costs after rivals like Asda triggered a price war. 

The move is a response to rising operational expenses, including taxes and wages. 

Despite the pressure, Tesco posted strong sales and reclaimed a 28.3% market share, its highest since 2016, prompting widespread media and investor interest.

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Tesco has announced plans to cut an additional £500 million in costs after rivals like Asda triggered a price war. 

The move is a response to rising operational expenses, including taxes and wages. 

Despite the pressure, Tesco posted strong sales and reclaimed a 28.3% market share, its highest since 2016, prompting widespread media and investor interest.