Tuesday 3 November 2026 | four Australian stories first, then the main headlines from around the world.
Featured image: Photo: Richard Mudhar (Flickr), CC BY 2.0, via Wikimedia Commons. Illustrative image of Melbourne sport. The Melbourne Cup itself is run at Flemington.
Australia
1. Point of Law wins the 166th Melbourne Cup
Point of Law, ridden by Ethan Brown, won the Melbourne Cup by 3.75 lengths as favourite. Ciaron Maher trained the first three placegetters, with Zahrann second and Juja Kibo third, the first time one trainer has filled the first three places in the race’s 166 editions. The Victoria Racing Club reported 97,000 racegoers at Flemington.
2. RBA lifts the cash rate to 4.85%
The Reserve Bank of Australia raised the official cash rate to 4.85% at its Melbourne Cup Day meeting. It is the fifth increase this year and the highest level since 2008, according to the ABC and SBS News. The RBA said inflation remains too high and is forecast to stay elevated through much of 2027. SBS estimated that a $600,000 mortgage now costs more than $450 a month more than it did in February.
3. Regional Western Australian households feel the rate rise
ABC reporters spoke with households in Geraldton, Karratha, Wickham, Broome and the Great Southern who are cutting back. A Geraldton homeowner said his mortgage has risen by $90 a fortnight since he bought six months ago, while business owners in Narrikup said they are paying themselves no wage.
4. Year 5 NAPLAN to return to pen and paper from 2028
SBS News reported that Year 5 NAPLAN testing will return to pen-and-paper format from 2028.
Around the World
5. Spanish high-speed train crash: all 69 victims identified
Spain’s Integrated Data Center said all 69 victims of the collision near Urda have been identified, and 29 injured people remain in hospital. Of those who died, 54 were Spanish and 15 were foreign nationals. The New York Times reported that the transport minister said controllers could see the approaching train for 17 minutes without intervening.
6. Iran and the US remain far from a deal, says Iranian official
A senior Iranian official told Reuters that Iran and the United States remain far from an agreement, while mediators work to narrow gaps. Reports said Tehran’s conditions must be met for the Strait of Hormuz to reopen.
7. Russia strikes Ukrainian energy sites; fire at Yaroslavl refinery
Russia’s defence ministry said it struck Ukrainian energy facilities overnight with precision weapons and drones, and reports said several Ukrainian power plants went offline. Reuters reported that a drone attack set fire to the Yaroslavl refinery in Russia, and the regional governor said 124 drones were intercepted and two workers were injured.
8. Israel’s president consults parties on forming a government
President Isaac Herzog began consulting parties to choose a candidate to form Israel’s next government. Opposition leaders agreed to recommend Gadi Eisenkot, while Prime Minister Benjamin Netanyahu is seeking a coalition without Arab-led parties, which hold 19 seats.
9. United States votes in midterm elections
Voters across the United States cast ballots in the midterm elections on Tuesday 3 November, with counting continuing into the following day.
Stories are included only where the reporting could be confirmed. Figures and details may be updated as events develop.
Sources
This report is a summary written in our own words from the following reporting: ABC News: Point of Law wins Melbourne Cup; ABC News: Melbourne Cup finishing order; ABC News: regional WA and the rate rise; SBS News bulletin, 3 November; Just Security Early Edition, 3 November; Foreign Exchanges world roundup, 3 November; Nhan Dan world news in brief, 3 November.
