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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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Anthony Pickering said he gave his daughter a ‘whack on the bum’ for making the baby cry.

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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WorkSafe warns only approved containers up to 25 litres should be used.

Award-winning writer Craig Silvey has been slapped with more child exploitation charges.

The 43-year-old was previously charged with possessing and distributing child exploitation material in early January.

Today, Silvey was also charged with producing child exploitation material from January to June 2022 and slugged with an additional count of possessing it.

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The author of novels Jasper Jones and Rhubarb appeared in Fremantle Magistrates Court without entering pleas on any of the charges.

The father-of-three's bail was extended with the same strict conditions but no surety now payable.

Silvey, who has been shortlisted for the Miles Franklin Literary Award and the International Dublin Literary Award, was allegedly caught communicating with child exploitation offenders online when police raided his Fremantle home before his arrest in January.

Silvey is best known for his 2009 coming-of-age novel Jasper Jones, which is considered a modern Australian classic and was aimed at adults and young readers.

The global hit won the Australian Book Industry's Book of the Year Award and has been adapted for film and various stage productions.

His most recent novel, Runt and the Diabolical Dognapping, was published by Allen & Unwin in September.

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Another of his books is Honeybee, which won the Australian Indie Book Award in 2021.

Most of his works were purged from reading lists across the nation after he was charged.

Allen & Unwin and Fremantle Press, which published Rhubarb, have stopped promoting his books.

Police investigating Silvey have also charged a 68-year-old woman with two counts of producing child exploitation material and one count of distributing it after analysing the writer's electronic devices.

She allegedly created and distributed the material with Silvey, police said.

The woman is also charged with three counts of failing to comply with reporting obligations.

She has been remanded in custody to appear before the Joondalup Magistrates Court on April 2.

Support is available by calling 1800 RESPECT on 1800 737 732, National Sexual Abuse and Redress Support Service on 1800 211 028, Lifeline on 13 11 14 or Kids Helpline 1800 55 1800 (for people aged five to 25).

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Its waitlist has blown out to 79 days as more victims seek help for pets.

The teens were flung from the car that only had one working headlight and worn brakepads.