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Andrew Forrest's Squadron Energy would financially benefit by keeping its floating LNG storage terminal in Egypt at least another year and that's raised more speculation about the timeframe of its Port Kembla ambitions at home.

Meanwhile, fashion house Hermes has doubled its Australian profits in the past five years as appetite for its arm candy renders it impervious to the cost of living pinch.

And aviation writer Robyn Ironside examines whether a newly floated Virgin Australia's shares will soar and finds the investment community divided. 




Vesna Poljak
Business editor
The markets


Making news this morning
1
App Store now a $2 trillion business
The tech titan’s App Store has become multitrillion-dollar business, with more than $2 trillion in developer billings and sales flowing through the platform, with one Australian company earning $32m.
2
Bromance over: Trump threatens to axe subsidies, contracts for Musk
Donald Trump and Elon Musk have publicly traded barbs and insults with the tech titan claiming the President wouldn’t have won the election without him.
3
Faith in flying banking sector over miners a risky move
Australian banks have outperformed the miners since late 2023 but Citi believes having too much emphasis on the financials could pose a ‘material risk’ for investors.
Editor's picks
MARGIN CALL
Enemies on the trail of Getswift’s fugitive wannabe influencer
Getswift boss Joel Macdonald’s vanishing act wasn’t confined to his $200m fortune and now a YouTube debut has left clues to his whereabouts for both web sleuths and burnt business associates.
NICK EVANS, YONI BASHAN
Commentary
Rio braces as Mongolian political storm builds pressure on mine
By ERIC JOHNSTON
Associate Editor
A political scandal in the East Asian country of Mongolia could have implications for one of Rio Tinto’s prized mines as well as its hunt for a new chief executive.
Musk vs Trump, money vs power: who will win this ugly war?
By JOE KELLY
National Affairs editor
The ending of a political partnership – like in any relationship – can be an ugly, messy affair. But this is more than that.
DataRoom
Private equity starts preparing for revived Healthscope auction
New parties are knocking on the door of Healthscope’s receivers and will give not-for-profit operators a run for their money.
GemLife plots early July IPO, deal terms out by Tuesday
The retirement living operator will raise $700m to $750m, say sources.
Citi head of ECM Rob Jahrling departs as John McLean returns
The managing director picking up the responsibilities has over two decades of experience in global capital markets.

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