LONDON -- Tesco here isn't afraid of Wal-Mart.
The U.K.'s largest food retailer said it is prepared to compete with the Bentonville, Ark.-based retail giant both in Great Britain and on foreign shores.
On the homefront, Tesco said it will announce plans for its biggest price-cutting initiative ever. The company said it is stepping up its price-cutting campaigns with plans to invest $162 million in price cuts this year. The move closely followed an announcement by Asda, wh