Apparently they're still "just good friends", so naturally there is nothing to make of Miranda Kerr jetting off to Cyprus to spend a few days with James Packer aboard the billionaire casino baron's luxury superyacht The Arctic P last week, right?
Interestingly, the pair were rumoured to be enjoying their time away just as Packer's seventh wedding anniversary was passing, though given the arrival of Kerr, it's a safe bet that his attentions were, well, somewhere else.
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Private Sydney: The chalk and cheese of Sydney
Two of Australia's greatest cultural ambassadors, albeit from very different ends of the spectrum graced Sydney this week. Andrew Hornery explains.
And while PS's spies confirmed the Arctic P was indeed in the waters surrounding Cyprus last week, its celebrity cargo was not quite as obvious, opting to stay out of sight.
Kerr did upload a selfie on her social media feed which did look suspiciously like she was inside one of the Arctic P's suites.
Packer himself confirmed a romance with the model and ex-wife of Hollywood heart throb Orlando Bloom was in its very early stages when PS first approached him on the subject six months ago, Kerr herself has been busy playing down any such notions.
Indeed, it was Kerr's camp that told PS - and in in no uncertain terms - that Packer was "one of about 10 billionaires who is keen to date Miranda".
Other sources close to the model told PS that her presence on the Arctic P was all part of her strategy to get Packer to invest some of his mountains of moolah into her fledgling cosmetics brand Kora.
Cash for Kora then?
But surely Kerr doing the hard sell for Kora could be done in a boardroom in a boring office tower anywhere in the world rather than on board one of the most luxurious gin palaces afloat, bobbing about in some of the most romantic waters on the planet?
PS has spent recent days tracking the Arctic P's movements around Cyprus, and it is interesting to note the former ice breaker was moored not too far from some very interesting attractions, including the birthplace of the ancient Greek goddess Aphrodite.
Indeed, Kerr is something of a modern day Aphrodite, who was the Greek goddess of love, beauty, pleasure, and procreation.
And who was Aprhodite's lover? None other than Adonis himself, the stud of the Greek gods.
Considering Packer's physical transformation over the past two years, shedding 35 kilograms after undergoing gastric bypass surgery and re-launching himself as a mid-life-playboy, the billionaire is almost an Adonis himself ... well, almost.
Kylie wows Coldplay's crowd
It was a glimpse of the Kylie Minogue many of us had thought was gone forever: the seasoned pop star not afraid to try something new in a room full of people who might not necessarily be her fans.
And that she did it courtesy of one of the biggest bands in the world - Coldplay - and without wearing a pair of gratuitous hot pants was enough to bring the house down at the Enmore Theatre on Thursday night.
While her awkward performance at this year's Logies resulted in a blitzkrieg of scathing criticism amid lacklustre sales of her latest album, even the most hardened music critics singled out Kylie as the highlight of what was one of the most anticipated concerts this year, despite it not even being her show.
Earlier on Thursday, Coldplay frontman Chris Martin had discussed the idea of performing together with Minogue over the phone, the pair both signed to the British label music Parlophone.
By 4pm she was on stage at the Enmore Theatre doing a soundcheck and brief rehearsal with the band. Just a few hours later Minogue was deep in the audience enjoying the show with the other 2400 fans, only to suddenly disappear and emerge on stage during the second encore.
She and Martin sang the moody ballad Where The Wild Roses Grow, which Minogue had originally performed with Nick Cave. Then they moved on to a slightly pared-down version of her biggest hit Can't Get You Out Of My Head, Coldplay-style.
It was a Minogue masterstroke, footage of her performance uploaded onto multiple social media feeds and going viral in a matter of hours around the world.
Admiral takes flight: Packer's right-hand man off to London
In another sign that Sydney is no longer the seat of power for the Packer clan, James Packer's right-hand man, Matthew Csidei, is moving to Europe.
Known as "the Admiral" in the eastern suburbs, and rather less kindly as "the Butler" in some gossip columns, his friends know him simply as "Ched", a former Cranbrook School chum of Packer's who has worked for years managing his numerous pleasure craft and property portfolio, most recently overseeing the renovations on the vast edifice in Vaucluse, which was intended to be the new home of James and his now ex-second wife, Erica.
Csidei confirmed to PS that he would move to London with his wife, Lauren Roscoe, and their two children. And while the family will be based in London, working for someone like Packer, who is famous for his penchant for superyachts, supermodels, and just about every other aspect of the good life, Ched's work is expected to have him become a regular visitor to such horrendous outposts as Monte Carlo and the Italian Riviera.
In 2011, Ched was revealed as the buyer of Southern Highlands property Kennerton Green, and while he has been involved in various bars and clubs that have launched in Sydney in recent years, these days he is far more the family man than bar-hopping playboy.
He is also the son of Bela Csidei, a prominent figure in Sydney during the '60s and '70s who had been pursued on several charges of corporate fraud and was jailed for cultivating marijuana in the Northern Territory in 1978, in between working as a runner for Sir Peter Abeles and a frontman for the notorious Sydney organised-crime boss Abe Saffron, otherwise known as Mr Sin.
But rather than follow in his father's footsteps, Csidei is employed at Consolidated Press Holdings, which is the Packer family's business that controls huge casino operations around the globe.
Earth to Elle...do you read us?
It would seem The Body, our very own Elle Macpherson, has missed her target somewhat since launching her ''alkilising greens'' food supplement last month.
Since Macpherson, who turned 50 in March, launched the modestly named The Super Elixir, the former supermodel has suffered something of a consumer backlash on social media and in the comments sections of online news outlets that have reported on the launch.
Top British nutritionist Sioned Quirke described Elle'sconcoction as an ''absolute joke", which, at about $180 a jar, is no cheap laugh.
But according to multimillionaire Macpherson - who declares that she feels ''buzzed'' after gulping the stuff down twice a day - The Super Elixir is ''my birthday present to women". Hip, hip hooray!
Waterhouses lead royal rush
There have been a few familiar faces in the Royal Enclosure at Ascot this year, with a growing legion of Aussies attending what is billed as the most regal race meeting in the world.
Leading the charge has been the Waterhouse clan, with Gai and husband Robbie, and Tom and Hoda Waterhouse donning their finest top hats and headwear to play with the various members of the royal family who have turned up at the track, from Queen Elizabeth II down.
Other Sydney types soaking up the ambience were television executive Bruce Mann and his wife Stephanie Atkinson, who appear to have enjoyed all the traditions at Ascot, including the annual singalong following the races.
Ascot Racecourse was founded by Queen Anne in 1711. Since then a further 11 monarchs have given their patronage to the royal racecourse.
Indeed a day at Ascot is somewhat different to a day at Randwick or Flemington. For starters there is the Royal Procession, which dates back to the 1820s and the reign of King George IV, at which time it was referred to as the Royal Parade or Royal Drive.
But it is inside the Royal Enclosure where you are likely to mingle with bluebloods, where gentlemen are required to wear morning dress with a top hat and ladies must wear formal day wear - and that does not mean a $5 fascinator, stripper heels and a miniskirt, so often seen at Australian race meetings.
Things have relaxed a little in terms of getting into the Royal Enclosure, which once had a ban on criminals and undischarged bankrupts from gaining entry, while divorcees have been allowed in since 1955. Imagine trying to enforce such rules at Royal Randwick.