Murdoch Says Weaker Sterling Makes UK More Competitive: Reporter

The sharp fall in sterling since Britain voted to leave the European Union will make its economy more competitive, media owner Rupert Murdoch said on Tuesday at a conference hosted by one of his newspapers, The Times.

Ed Conway, economics editor at Sky News and a columnist at the Times, said on Twitter that Murdoch also blamed sharp falls in share prices on those who had unsuccessfully campaigned to keep Britain in the EU.

Conway said Murdoch, executive chairman of News Corp, also issued a warning to Boris Johnson, the former mayor of London who led the Leave campaign and is front-runner to succeed Prime Minister David Cameron, who has said he will resign.

"Rupert Murdoch: if [Boris] backtracks on serious things there'll be another bloody revolt #TimesCeoSummit," Conway said.