Latest news with #EIC
Finextra
a day ago
- Business
- Finextra
Belgium prosecutors launch probe into local Worldline unit
In the wake of allegations about payments processor Worldline earlier this week, Belgian prosecutors have opened an investigation into potential money laundering activities at the firm's local unit. 0 Shares in French giant Worldline plummeted on Wednesday after a "Dirty Payments" investigation, which was led by the European journalism network EIC and 21 media outlets, alleged the company covered up client fraud to protect revenue. Now, the Brussels Public prosecutor says it has opened an investigation, entrusted to the Federal Judicial Police, amid claims that Worldline processed payments for companies involved in illegal activities. In a statement to Reuters, Worldline says it will cooperate with the authorities. Worldline has strongly defended itself against the allegations, stating that it has conducted a "thorough review" of its high-brand-risk portfolio, such as online casinos, stockbroking and adult dating services, since 2023. It added that it maintains "zero-tolerance" for non-compliance and engages regularly with regulatory authorities. In a call with analysts reported by Bloomberg, CEO Pierre-Antoine Vacheron, said Worldline had been 'attacked' by the media, and that there was 'nothing new' in the reports aside from an 'unacceptable narrative'.
Yahoo
a day ago
- Entertainment
- Yahoo
Anna Wintour is stepping down as the editor in chief of Vogue. These are the moments that turned her into a pop culture icon.
After 37 years as Vogue's editor in chief, Anna Wintour is officially stepping down. The fashion icon is not retiring altogether; instead, she will remain on as the publisher's global chief content officer as well as Vogue's global editorial director, per CNN. It is, nonetheless, the end of an era — one marked by Met Galas, groundbreaking (and sometimes controversial) magazine covers, and moments that cemented the EIC's place in pop culture history. From being dubbed 'Nuclear Wintour' by tabloids in the '90s for her icy management style to inspiring one of Meryl Streep's most famous roles, Wintour's reign at Vogue has shaped not only fashion but how the world views it. Prior to her reign as editor in chief of Vogue, Wintour worked across different magazines at Condé Nast, including House & Garden and the U.K. edition of Vogue. It was during her time at the U.K. fashion magazine, where she replaced beloved editor Bea Miller, that British tabloids gave her the titles 'Nuclear Wintour' and 'Wintour of Our Discontent' — nods to her reputation for being cold, demanding and unapologetically tough on her staff. In 1997, the British-born Wintour pushed back against the nicknames in a piece for the Guardian, writing that while journalists portrayed her as a 'wicked woman of steel,' she only recalled letting go of 'two or three' employees during her time at the magazine. 'There was a cozy but mildly eccentric atmosphere at British Vogue, which, after my time in New York, struck me as out of date,' Wintour recalled. 'It also seemed out of step with the fast developing social and political changes that were thundering through Britain in the eighties, under Margaret Thatcher. I felt the cozy approach was not responsive to intelligent women's changing lives. So I decided to infuse the magazine with a bit of American worldliness, even toughness.' While Wintour may not have appreciated the nicknames nor agreed with their accuracy, it's clear that her tough-as-nails reputation solidified a certain image of the ice queen fashion editor — an image that Wintour would carry with her throughout her career. In 1988, Wintour debuted her first cover of Vogue — and it shocked the fashion world. Model Michaela Bercu wore a $10,000 Christian Lacroix couture jacket with a bejeweled cross along with $50 Guess jeans, photographed outside in natural light. The casual tone of the photo was a stark change for the magazine; even Wintour herself didn't initially expect to run the photo on the cover. 'It was so unlike the studied and elegant close-ups that were typical of Vogue's covers back then, with tons of makeup and major jewelry,' Wintour wrote of the cover in a 2012 Vogue piece, adding that the photo 'broke all the rules.' The model 'wasn't looking at you, and worse, she had her eyes almost closed,' Wintour explained. 'Her hair was blowing across her face. It looked easy, casual, a moment that had been snapped on the street, which it had been, and which was the whole point.' Wintour said that the cover led to all sorts of incorrect interpretations, including that it was some sort of 'religious statement.' None were true. Instead, she wrote, 'I had just looked at that picture and sensed the winds of change. And you can't ask for more from a cover image than that.' In 2006, The Devil Wears Prada, a novel written by former Wintour assistant Lauren Weisberger, was adapted into a movie starring Anne Hathaway and Meryl Streep. Immediately, people assumed that Streep's character Miranda Priestly — EIC of the fictional Runway magazine — was a thinly veiled caricature of Wintour. Wintour has not said much publicly about the portrayal of Priestly, an icy, calculating and wildly demanding boss. In fact, Anna: The Biography author Amy Odell wrote that when the EIC learned that Weisberger had sold The Devil Wears Prada, 'she said to [managing editor Laurie] Jones, 'I cannot remember who that girl is,'' per Entertainment Weekly. Recently, the film — for which a sequel is in the works — received a West End musical adaptation, which Wintour attended in December 2024. Speaking to the BBC after the show, she said it is 'for the audience and for the people I work with to decide if there are any similarities between me and Miranda Priestly.' The Devil Wears Prada is not the only piece of pop culture to apparently pay tribute to the famed fashionista. She was also parodied on the show Ugly Betty with the character Fey Sommers. Interpretations of Wintour, always with her signature giant sunglasses, have also been seen on Saturday Night Live and The Simpsons. Wintour also appeared as herself in 2018's Ocean's 8, which was about a group of women pulling off a heist at the Met Gala. In 2009, R.J. Cutler's documentary The September Issue followed Wintour as she and her team crafted the September 2007 edition of Vogue — at the time, the largest issue to date. It peeled back the curtain on working for Wintour, revealing her exacting standards and intense leadership style at the center of the high-pressure world of fashion publishing. In a review of the documentary by Roger Ebert, the late film critic wrote, 'There cannot have been a page she wasn't involved with. This seems to be a woman who is concerned with one thing above all: The implementation of her opinion.' Fashion's biggest night wouldn't be quite the same without the influence of Wintour. In 1995, she took over as chair of the Met Gala, transforming the annual fundraiser for the Metropolitan Museum of Art's Costume Institute from a modest society dinner into a global pop culture phenomenon. Wintour revamped the guest list, inviting A-list celebrities, designers, models and entertainment industry power players. This coincided with the rise of the celebrity stylist, putting these behind-the-scenes fashion players on display just as much as the stars wearing their outfits. Wintour helped elevate pop culture icons like Rihanna, whose outfit choices have become among the most anticipated on the red carpet. In 2015, Wintour made headlines with the Met Gala once again. 'China: Through the Looking Glass' was one of the most attended exhibitions — but also a highly controversial one, as Wintour and her team were accused of promoting appropriation and showing Eastern culture through a Western lens. Still, the Met Gala has continued to push cultural conversation forward, as it did this year with its theme 'Superfine: Tailoring Black Style,' which spotlighted Black designers and Black identity. In May, Wintour told E! News of the exhibit, 'It's about optimism and hope and community. I hope that many, many people come and see it.'
Cosmopolitan
a day ago
- Business
- Cosmopolitan
Anna Wintour's net worth decoded, as the Vogue editor steps down after 37 years
Since Dame Anna Wintour – one of the most influential figures in the fashion world – officially announced her decision to step down as the Editor-in-Chief of American Vogue, after a remarkable tenure spanning nearly four decades, we started getting curious. As well as being a renowned EIC, she's an icon of her own making... so, does she have a gigantic net worth to match all her success? In a nutshell: yep. And below we detail exactly how much it's reported that Wintour is worth, thanks to not only her day job but her savvy property choices and other ventues. Oh! And while Wintour is waving goodbye to being Vogue's top dog, she's not going to completely disappear. Instead, she will retain her influence as Global Chief Content Officer and Global Editorial Director at Condé Nast, the publishing company behind the title. It all sounds like it could be straight out of of the Devil Wears Prada sequel set to drop next year (which, as well know, is extremely Anna coded). Ok, so first up it's important to say that given she has never explicitly spelled it out, the figures around Anna Wintour's wealth are educated guesses: in 2020, Business Insider reported that she was worth $30 million (£21 million). Elsewhere, and a few years on, in 2025 Wintour's net worth is estimated to be about $50 million. Various sources, including Celebrity Net Worth and The Mirror US, report her annual salary during her time at Vogue reached $4 million a year. But of course that's not all that goes into estimating what someone is 'worth'. Elsewhere, Wintour's impressive portfolio includes some super. high-value real estate assets. Notable properties include her historic townhouse in Greenwich Village, New York City, which she purchased in 1992 for $1.4 million and which is now valued at close to $10 million. Additionally, she owns a sprawling Long Island estate of over 40 acres, valued between $10–15 million. Combined, these properties contribute significantly to her overall wealth. While Wintour is synonymous with Vogue, her ventures go far beyond the magazine. For decades, she has also co-chaired the annual Met Gala, one of the most prestigious events in fashion, helping to raise over $50 million for the Metropolitan Museum of Art's Costume Institute throughout her tenure. Recognised as a powerhouse fundraiser, she redefined this event into an internationally lauded spectacle and it's unique theme every year provides some of fashion's biggest (and most entertaining) moments. Additionally, Wintour played a pivotal role in nurturing emerging fashion designers. Through the CFDA/Vogue Fashion Fund, via which she has mentored and financially supported numerous successful designers, including Alexander Wang and Proenza Schouler. When announcing her decision to step down as E-I-C, Wintour told her team she will still be very much on hand to support and guide "the next generation of impassioned editors storm the field with their own ideas" and expects to remain Vogue's "tennis and theatre editor in perpetuity". Jennifer Savin is Cosmopolitan UK's multiple award-winning Features Editor, who was crowned Digital Journalist of the Year for her work tackling the issues most important to young women. She regularly covers breaking news, cultural trends, health, the royals and more, using her esteemed connections to access the best experts along the way. She's grilled everyone from high-profile politicians to A-list celebrities, and has sensitively interviewed hundreds of people about their real life stories. In addition to this, Jennifer is widely known for her own undercover investigations and campaign work, which includes successfully petitioning the government for change around topics like abortion rights and image-based sexual abuse. Jennifer is also a published author, documentary consultant (helping to create BBC's Deepfake Porn: Could You Be Next?) and a patron for Y.E.S. (a youth services charity). Alongside Cosmopolitan, Jennifer has written for The Times, Women's Health, ELLE and numerous other publications, appeared on podcasts, and spoken on (and hosted) panels for the Women of the World Festival, the University of Manchester and more. In her spare time, Jennifer is a big fan of lipstick, leopard print and over-ordering at dinner. Follow Jennifer on Instagram, X or LinkedIn.
Finextra
3 days ago
- Business
- Finextra
Worldline shares tumble over media allegations of fraud cover up
Worldline shares plunged by 20% after multiple media outlets alleged that the French payments processor covered up client fraud to protect revenue 0 This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. The "Dirty Payments" investigation, which was led by the European journalism network EIC and 21 media outlets said it based its reports on confidential internal documents and data from Worldline, alleged the company accepted "questionable" clients across Europe, including pornography, gambling and dating sites. According to the reports, Worldline regularly looked the other way when customers were linked with suspicious transactions, fearful about the hit to revenues, and if a division had too many fraudulent customers, they were moved to another division. Responding to the allegations, Worldline said in a statement that since 2023 it has strengthened merchant risk controls and terminated non-compliant client relationships. The company said it has conducted a "thorough review" of its high-brand-risk portfolio, such as online casinos, stockbroking and adult dating services, since 2023, affecting merchants representing 130 million euros in run-rate revenue in 2024. It added that it maintains "zero-tolerance" for non-compliance and engages regularly with regulatory authorities.
Finextra
3 days ago
- Business
- Finextra
Wordline shares tumble over media allegations of fraud cover up
Worldline shares plunged by 20% after multiple media outlets alleged that the French payments processor covered up client fraud to protect revenue 0 The "Dirty Payments" investigation, which was led by the European journalism network EIC and 21 media outlets said it based its reports on confidential internal documents and data from Worldline, alleged the company accepted "questionable" clients across Europe, including pornography, gambling and dating sites. Responding to the reports, Worldline said in a statement that since 2023 it has strengthened merchant risk controls and terminated non-compliant client relationships. The company said it has conducted a "thorough review" of its high-brand-risk portfolio, such as online casinos, stockbroking and adult dating services, since 2023, affecting merchants representing 130 million euros in run-rate revenue in 2024. It added that it maintains "zero-tolerance" for non-compliance and engages regularly with regulatory authorities.
