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Melbourne Cup prizemoney to be paid from first to 24th after $10m race confirmed

Melbourne Cup prizemoney to be paid from first to 24th after $10m race confirmed

News.com.au09-07-2025
Racing Victoria has confirmed prizemoney increases for Australia's most famous and best races.
Melbourne Cup prizemoney has officially increased to $10m with all starters to share in the bounty.
The Cox Plate has also been boosted to $6m – up from $5m – to mark the historic last weight-for-age championship on the traditional Moonee Valley Racecourse before a major redevelopment.
Racing Victoria is set to confirm prizemoney schedule for the 2025-25 season on Thursday.
This masthead on Monday revealed the Melbourne Cup and Cox Plate prizemoney decisions.
VRC chief executive Kylie Rogers has welcomed the Melbourne Cup prizemoney increase.
'We are thrilled to finally be able to allocate the prizemoney the Lexus Melbourne Cup deserves,' Rogers said.
'It's the 'People's Cup' and frankly $10m allocated across all participants from one to 24 keeps the dream alive for all local, domestic and international participants.'
Prizemoney historically for the Cup has been paid down to 12th place from $4.4m to $160,000.
While the status quo remains for the top half of the Cup field, from the first Tuesday in November this year 13th to 24th will each receive $100,000.
Last year the Melbourne Cup carried $8m prizemoney and a $750,000 18-carat gold three-handled trophy.
Rogers praised VRC chief racing officer Leigh Jordon for the new payment structure.
'It takes a lot to get to the Cup,' Jordon said.
'Spreading it right down to the bottom gives everyone a chance in the race domestically and I think internationally it will help a little bit too … it takes a bit to fly out here and participate in the Cup.
'It's good for our grassroots participants here in Australia and New Zealand … it's the People's Cup and we want everyone to be able to run in it.'
The VRC has also officially recognised the Geelong Cup and Moonee Valley Gold Cup as 'win and you're in' Melbourne Cup qualifiers.
'Geelong Cup and Moonee Valley Gold Cup have historically delivered, naturally, Melbourne Cup starters and so we thought we would richly reward them and formalise them as part of our golden ticket program,' Rogers said.
'Now we have a $10m Melbourne Cup with 10 golden tickets leading in.'
An industry-wide collaborated and approved 'strategic reallocation' has allowed RV to maintain the overall prizemoney pool while also being able to boost select races from grassroots to elite level.
A reduction in All-Star Mile and Australian Cup prizemoney – now $2m from $2.5m last year – has boosted the Newmarket Handicap ($1.5m to $2m) and Melbourne Cup.
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Regional communities look for banking solutions as major banks leave town
Regional communities look for banking solutions as major banks leave town

ABC News

time13 minutes ago

  • ABC News

Regional communities look for banking solutions as major banks leave town

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The credit union was formed on the island of Milingimbi after remote communities in the Top End had no access to banking facilities. "Big banks have got shareholders and they've got to answer to them," he said. "It's costly to operate in remote communities. "It's very difficult, particularly up here in the Northern Territory, where a number of these communities are cut off in the wet season and access to them is limited quite often to fly-in." Mr Lyons said communities suffered when banks pulled out, and getting cash into those areas could become difficult for local businesses and groups. "It sounds like a minor thing, but it is actually a major thing, along with the ability to actually go and talk to someone." Mr Lyons said services, such as opening or cancelling accounts or handing deceased estates, could only happen in branches, and closing locations could impact local jobs. He said the community banking model worked, but also needed support. 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The union said it was continuing to pressure the federal government on the issue of regional banking. The union's assistant national secretary, Nicole McPherson, said it had been 14 months since a Senate inquiry handed down a report calling for banking to be regulated as an essential service. "It is critical that the federal government step in and protect bank workers and customers, given that the banks have proven themselves to be incapable of doing anything other than putting profits and shareholders first," she said. The Australian Banking Association declined to comment.

‘Nightmare': Meriton resident faces ‘unrelenting' noise from Woolworths loading dock metres away
‘Nightmare': Meriton resident faces ‘unrelenting' noise from Woolworths loading dock metres away

News.com.au

time13 minutes ago

  • News.com.au

‘Nightmare': Meriton resident faces ‘unrelenting' noise from Woolworths loading dock metres away

A Sydney apartment owner says he is at his wits' end after enduring months of 'deafening' and 'unrelenting' noise coming from a Woolworths loading dock located just metres away on the other side of his bedroom wall. Yang Yuan, 32, has questioned how building standards allowed the unusual layout of Mascot Central, where he claims his family is exposed to 'severe industrial noise', including reversing trucks, heavy metal impacts and rolling pallet jacks, from 7am to 11.40pm every day. 'It's a nightmare,' he told 'The noise is very intermittent, very random and very loud. The workers on the loading dock work on shifts — we are there, we don't have shifts. When they're working, I put my hand against the bedroom ceiling and I can literally feel it shaking. It feels as if we're living inside the loading dock.' The software engineer purchased the $750,000 one-bedroom unit in November last year and moved in with his wife and two cats straight away. The mixed-use Meriton development, located in Sydney's inner-south, was completed in 2016, and the developer says it has never received any noise complaints until now. But Mr Yuan, who has recorded multiple videos of the loud banging and industrial noise reverberating through his bedroom, says he feels abandoned by Meriton, Woolworths and Bayside Council, accusing them of repeatedly 'deflecting or denying responsibility' despite repeated complaints. 'They have put a lot of effort into denying the problem but if they had put the same amount of effort into investigating the issue it might already have been solved,' he said. Mr Yuan said the noise made it 'impossible' to work from home, 'rest or live comfortably', and left the couple's mental health in tatters. 'I've previously lived in some of the noisiest environments imaginable — next to highways, above bus stops, near construction sites, even beside neighbours playing instruments,' he said. 'None of that ever bothered me. When I say this loading dock noise is unbearable, it's not about sensitivity, it's genuinely extreme.' He and his wife, who works as a freelance digital artist, are now 'suffering from chronic sleep deprivation, heightened anxiety and constant anger'. 'Most of our free time is now spent fighting this — countless hours filming, recording, investigating and contacting different parties for help,' he said. Mr Yuan and his wife have now moved their bed into the downstairs living room to escape the worst of the noise. 'In the living room we can also hear the noise but it's like 10 per cent better,' he said. He added that he felt the build quality contributed to the noise penetration. He said the building materials were 'definitely not good for isolating the noise considering you're building next to the loading dock.' After his initial complaints to Meriton, the developer obtained a noise testing report in April, which found no issues. In May, Mr Yuan hired a professional acoustic engineer at his own cost. Over a two-day period, KR Acoustic recorded more than two dozen instances at nearly double the limits prescribed by the Association of Australasian Acoustical Consultants (AAAC) for 'impulsive' noises such those as generated by weight dropping in gyms. The sample identified 10 noise events measuring 61dBA during the day, versus the 35dBA limit, nine measuring 58dBA during the evening, when the limit is 30dBA, and six at night measuring 50dBA, double the 25dBA limit. The noise events were 'both loud and frequent, regularly exceeding allowable limits at all hours of the day', the report said. KR Acoustic concluded that noise was 'structure-borne, originating from activities at the Woolworths loading dock, and it consistently exceeds the impulsive noise limits set by the AAAC, particularly in relation to gym weight drops but also relevant for similar structure borne impulsive noise in general'. 'The measurement results substantiate residents' concerns, providing sufficient grounds for authorised officers or enforcement personnel to further investigate and to classify the noise as offensive,' it said. 'It is very likely that the noise contributes to elevated stress levels of the residents.' Mr Yuan provided the report both to Meriton and Bayside Council in June. The council said it was investigating the noise complaint, but in July informed Mr Yuan that Meriton had provided its own acoustic report which countered his, and declined to pursue the matter. Mr Yuan said he had only been provided a summary of the conflicting report. 'No one is trying to help us,' he said. A Woolworths spokesman said the Mascot Central store was operated 'like any one of our supermarkets'. 'The store is open between 7am and 10pm, and receives deliveries throughout the day,' he said. 'We've been operating in the community for close to 10 years. 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Bayside Council said in a statement it was 'working with Woolworths and Meriton to identify any additional noise mitigation measures that could be implemented, while still supporting the approved use of the site'. 'Under the current development consent, Woolworths is permitted to operate until midnight, with loading dock use allowed until 10pm,' a spokesperson said. 'An acoustic report was submitted by one resident in early June 2025. Meriton, who manage the retail complex, provided an acoustic report in response and their findings conflict with the resident's report. Council will continue to work to find a suitable resolution for all parties.'

Melbourne's fastest-selling housing hotspots, buyers run out of time
Melbourne's fastest-selling housing hotspots, buyers run out of time

News.com.au

time42 minutes ago

  • News.com.au

Melbourne's fastest-selling housing hotspots, buyers run out of time

Melbourne's housing market is picking up pace, with the speed of home sales accelerating in the past year — particularly in areas that had been struggling the most. Latest PropTrack data shows the average days on market for the city's houses has dropped from 37 days in June 2024, to 36 days now. A likely contributor to the fall is homes selling closer to their scheduled auction day, which along with rising median prices for the first six months of the year hints sellers are starting to find themselves in a stronger position than they were last winter. Plenty luxury home breaks suburb record It's good news for the 775 auctions scheduled this week, which is down 13 per cent on the same time last year, and the about 760 homes slated to test the market next week. But the news is even better in coastal and lifestyle suburbs, with PropTrack data showing the time it takes to sell in Frankston North, McCrae, Baxter and Capel Sound has been slashed to as little as three weeks. McCrae led the Mornington Peninsula with the biggest drop in days on market, down from 62 to 41, while its median price reached $1.2m. Frankston North's median jumped from $545,000 to $610,250, with days on market shrinking from 31 to just 22. Baxter and Capel Sound also saw prices rise and days on market fall, while Langwarrin held firm with a $859,000 median. Across Greater Melbourne, PropTrack figures show a broader uplift in activity, with 61,913 houses sold in June 2025, up from 55,774 a year earlier. M R Advocacy director and broker Madeleine Roberts said coastal homes under $1m were being snapped up quickly. 'In Frankston North, homes are snapped up in under a month,' Ms Roberts said. 'Many buyers are frustrated and getting priced out if they hesitate even a week.' Ms Roberts added that investors were back in the mix as rental yields remained strong and vacancies low: 'We're not in a boom, but we're in a correction,' she said. 'Days on market are a leading indicator, and the market is beginning to heat up again.' Prominent Melbourne buyers advocate Cate Bakos said interstate investors were targeting suburbs like Frankston North for strong yields and capital growth. 'There's enormous pressure building at the lower end,' Ms Bakos said. 'We're not in a boom, but we are in a correction.' Belle Property and HockingStuart Victoria director Anthony Webb said the subâ€'$750,000 entry point was rapidly shrinking, squeezing firstâ€'home buyers even as investor demand returned. 'There's a lot of interest in Frankston and Langwarrin,' Mr Webb said. 'With rate cuts expected, savvy buyers are trying to get ahead of the curve.' On winter buying dynamics, Mr Webb said at entry level FOMO is kicking in: 'Move-in ready homes in the $750k –$1m range are still attracting strong interest, even in winter,' he said. This weeks busiest spots for auctions will be Mt Waverley, with 19 auctions, followed by Wollert, 18, Mickleham, 16, Reservoir, 15, and Craigieburn, 13.

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