Finance Minister Bill English says New Zealand is still "reasonably well placed" compared to many other countries despite today's weak economic growth news.

The economy grew at an unexpectedly slow rate in the last months of 2011, with GDP stats showing growth of 0.3pc - half what most were predicting.

Utilico Investments, a UK investor managed by Infratil director Duncan Saville's ICM, has bought a 7.1 per cent stake in Tourism Holdings.

The Warehouse seems to have fallen out of favour with consumers this week but maybe not investors.

Pumpkin Patch has posted a first half loss on costs to close its US and UK stores. The shares gained as it reported growth in sales.