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BHP Billiton and Rio Tinto said today they will walk away from the proposed $US116 billion West Australian iron ore joint venture.

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The Minister for Regional Australia, Simon Crean, the Minister for Water, Tony Burke and the Minister for Agriculture, Joe Ludwig, will invite the new Parliamentary committee for Regional Australia to conduct an inquiry into the impact of the Murray-Darling Basin Plan.

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The Grains Research and Development Corporation (GRDC) is reporting keen demand for a new fact sheet on succession planning.

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The wine industry’s annual period of review is currently underway and National Australia Bank (NAB) Agribusiness is urging wineries to take the opportunity to discuss their options for foreign exchange, interest rate risk and asset finance with their banker.