The chicken king Ranjit Boparan took home a far-from-paltry pay packet for last year. The West Midlands food entrepreneur and his wife, Baljinder, were paid a £13 million dividend, up from £12 million in 2009, after a 20 per cent rise in annual profits to £36.1 million at Boparan Holdings, which owns the chicken supplier 2 Sisters Food Group.
The keen Manchester United fan, who bought the Fox’s biscuits maker Northern Foods for £342 million this year, believes that the continued drive to cut costs and run the company as if it were in recession will be the key to future success.
Boparan worked in a local butcher’s after leaving school at 16 with few qualifications. He is said to have made a million, and lost it all, before coming back stronger. Now he employs more than 7,000 workers and is a favoured supplier to the likes of Tesco and KFC.
However, Boparan will have to make the dividend payout last. He won’t receive another for three years as part of a deal with Northern’s pension trustees.
• The bad news just keeps on coming for Elliot Morley, who was jailed last month after claiming for interest on a mortgage that had been paid off.
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The former Labour MP has been expelled from the Institute of Civil Engineers — the first honorary member of the body to have suffered the fate since Kaiser Wilhelm II — for failing to “uphold the dignity, standing and reputation of the institution.” He was made an ICE fellow in 2004 for his “proactive engagement” with the body.
• Research from WA Ellis shows that house prices in prime Central London areas such as Knightsbridge rose by up to 9 per cent in the first six months of the year, driven by overseas buyers.
It won’t be long before Brits cannot afford to park their cars in swankier neighbourhoods: the partner Daniel Wiggin points out that underground parking spaces are often sold for more than the national average house price.
In the blue corner: Jay-Z
In an unlikely partnership, Jay-Z and Ashley Cole are joining forces to open an American-themed bar and restaurant in London next year under the name 40/40 London.
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The rapper is known for his business acumen, with an empire worth $450 million (£280 million), according to Forbes. This includes his record label, Rocawear clothes range and part- ownership of the New Jersey Nets basketball team.
The footballer Cole’s credentials are unknown to us.