Tesco expects lower profits amid price war fears

Tesco has said it expects to make lower profits this year amid a growing price war amount the UK's major supermarkets.The UK's biggest grocer has forecast profits of between £2.7bn and £3bn compared with the £3.1bn it made for the financial year that has just ended.Chief executive Ken Murphy said the lower profit prediction would give Tesco the "flexibility and the fire power to maintain our position in the…