Australia's red centre has seen its heaviest rainfall in a decade, with thunderstorms bringing more than 100 millimetres to the central parts of the country.

Yulara Airport, near Uluru, saw 76.4 millimetres of rain in the 24 hours to 9am today, according to Weatherzone, with another 34.4 millimetres falling in just three hours today.

The rain over the last two days is three times more than Uluru's monthly average at this time of the year.

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It has caused some roads near the landmark to be closed, but all walking tracks remain open.

"We ask visitors to exercise caution, remain on marked tracks and paths at all times and take care on potentially slippery surfaces," Uluru National Park said in a post on Instagram.

The wet weather is being caused by a low-pressure trough, which is bringing moisture across the centre of Australia.

"The slow-moving nature of this trough, combined with copious atmospheric moisture, is resulting in substantial rainfall in some areas," Weatherzone's Ben Domensino said.

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He said the wet weather will spread to other states across the week.

There are flood warnings in Queensland and the Northern Territory, as well as a severe weather warning in place for the northern part of South Australia.

Mapping shows parts of every state will see at least 30 millimetres of rain.

The Bureau of Meteorology's warning said falls of up to 160 millimetres in just one day were possible, leading to the risk of flash flooding.

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Towns such as Coober Pedy could be affected, but major centres such as Adelaide will miss the worst of the weather.

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Businesses impacted by one of the world's longest COVID-19 lockdowns will receive $125 million from taxpayers after a state government agreed to settle the matter.

A class action was brought in the Supreme Court on behalf of businesses impacted financially by Victoria's 2020 lockdowns.

Retail businesses, including lead plaintiff 5 Boroughs NY Pty Ltd, argued the state government should pay them for economic loss resulting from the lockdown as customers were prevented from attending their physical businesses, due to restrictions between July and October.

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The matter had been listed for trial on March 10, however it was adjourned to a directions hearing at the Melbourne Supreme Court today.

Barrister Adam Hochroth SC, representing the class action, said the trial had been vacated as he was "pleased" to inform the court the parties had reached a settlement.

"The terms of the settlement deeds are confidential at this stage, but I can tell Your Honour the amount of the settlement is $125 million, inclusive of everything, costs, interest," he told the court today.

The settlement must be formally approved by the court before the funds can be distributed.

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The Victorian government confirmed the settlement outside of court today, saying it continues to stand by "the steps it took during the pandemic to keep Victorians safe".

"The state has reached an agreement to resolve the matter," a spokesperson said.

"The $125m settlement, agreed to between the parties, will avoid further protracted legal proceedings."

The class action's law firm, Quinn Emanuel Urquhart & Sullivan, said the settlement concluded "years of hard-fought litigation" by impacted businesses.

"This is a significant outcome for eligible businesses. July to October 2020 was an extraordinarily difficult period for Victorian retail businesses," partner Damian Scattini said in a statement.

"The $125 million settlement that we have achieved on their behalf is recognition of this hardship and I hope it provides some measure of relief for eligible businesses."

The settlement approval application was adjourned to a date to be fixed.

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A man has been arrested over the fatal, targeted shooting of an underworld figure in Sydney's west.

Abdullah Bahsa, 38, was shot in the stomach at a unit block on Shale Street in Lidcombe just after 4am and has since died in hospital.

His friend, who was with him at the time, was assaulted and suffered non-life-threatening injuries.

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Witnesses reported hearing the shots being fired and then screaming.

"It was like this bang and I just thought it was my flatmate," one person told 9News.

"Just a bunch of screaming and then someone got shot," another said.

9News understands the gunmen arrived at the unit about 11pm yesterday and, after discovering Bahsa was not home, waited five hours for him to return.

The gunmen, dressed in black, then separated him and his friend before fleeing the scene in a getaway car.

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Auburn Area Commander Superintendent Robert Toynton said early investigations indicate the shooting is linked to organised crime.

"I can assure the community, this is a targeted attack. This is not a random attack," Toynton said.

"From what we've discovered so far, there are strong links to organised crime."

Bahsa was known to the police for his involvement in the underworld. 

A man was arrested in Ryde about 12pm today and taken to Gladesville Police Station.

Police are speaking with him. No charges have been laid. 

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Police believe several people were involved in the shooting, including two men described as heavy-set and wearing black clothing.

Bahsa's injured friend is helping the police in their investigation.

"Finding this shooter is going to be a little more difficult than usual for these police officers," Toynton said.

"That's because on one side there are several high-rise apartment buildings and on the other side a construction site."

Anyone who heard something suspicious between 11pm and 4am is urged to come forward to the police.

"Someone must have seen something, someone must have heard something," Toynton said.

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Not one but two of Australia's most legendary rare coins – the 1930 penny – are up for grabs to the highest bidder this week.

While pennies were commonplace currency at the time, only approximately 1500 copies of the 1930 penny are believed to exist.

Minted at the Melbourne Mint during the Great Depression, it's believed the coins may have been struck in error as there was no formal Treasury request to strike pennies that year.

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One of the pennies going to auction in Brisbane from Wednesday has already attracted an early bid of $16,000.

The other will open for bidding at $17,500.

"Auction 154 offers collectors another opportunity to secure exceptional pieces, from legendary Australian rarities through to important international issues," Roxbury's Auction House Director Scott Waterman said.

Also going up for auction this week is a scarce 1914/15 "Rainbow Pound" emergency banknote.

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These one-pound notes were hastily printed without security features to fill a currency shortage following the outbreak of war, and then withdrawn from circulation in April 1915.

Collectors will also have the chance to get their hands on an iconic 1813 New South Wales 'Dump', one of Australia's earliest coins.

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