The directors of the Five Star group of companies have been banned from directing or managing companies in New Zealand.

New Zealand and Australia are weathering global financial and economic distresses better than most. This month we comment on the recent equity market rallies. Peter Lynn warns “don’t be fooled”.

In this month’s Tyndall comment, Andrew Hunt discusses Tyndall's expectation that New Zealand’s recession will deepen further in coming months. And, the different paths emerging for both NZ and Australian economies.

Wellington

Cashed-up baby boomers take advantage of perceived bargains in the property market, Veda Advantange says. It reports that mortgage applications were up 38% in March, compared to the same month last year.

AMP NZ Office Trust (ANZO) has signed up Peter Walkinshaw to the new position of portfolio manager – commercial.

Syndicated commercial property is making a comeback as an investment alternative as investors look for new options and returns in the marketplace improve.

Public Trust says the government guarantee it has on term and on-call account deposits has been extended to include interest.

Fortress notes worthless; Credit event for Credit Sails; Rabobank contemplating PIEs; Geneva forks out third repayment; Contact raises $550m

Iconic Rural Property Trust shrinks, Geneva gets banker's backing.

Graham Law has been promoted through the ranks of AMP Capital Investors to take up the pole position of managing director.

Kuala Lumpur, Malaysia

Pyne Gould Corporation says that Jeff Greenslade will take over the role of chief executive at Marac, currently held by Brian Jolliffe.

Financial industry stalwart David Whyte has been appointed to the board of Fidelity Life Assurance.