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.

Kiwi innovation and creativity is alive and well and deserves to be supported, writes Libby Nicholson-Moon.

The Kitchen House chain is understood to have closed its doors and sent staff home.

New Zealand's unemployment rate fell more than expected in the final three months of last year, reflecting a sharp rise in part-time employment.