Saturday, 23 August 2014
Last updated 23 hours ago
Mar 13 2013 | 11:32am ET
By several measures, private equity is the biggest business in all of Australia.
Private equity-backed companies employ more people than the country's automotive or banking sectors, according to a Deloitte Access Economics report. It's close: p.e. portfolio companies employ about 262,000 people, while automotive companies employ about 260,000. The figures are averages over a five year period from 2007 through 2011.
Australia's banks employ about 196,000.
Another 251,000 jobs are indirectly supported by p.e.-backed companies, the report, commissioned by the Australian Private Equity and Venture Capital Association, said.
Such companies also account for about A$25 billion (US$25.6 billion) of Australia's gross domestic product and generate revenue of about A$63.5 billion.
"This exceeds the coal-mining and general insurance industries, which had average turnover of A$55 billion and A$54 billion during fiscal 2007 to fiscal 2011," AVCAL research chief Kar Mei Tang said.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note