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Apple's Tim Cook on Thursday became the most prominent chief executive to acknowledge his homosexuality, putting fresh focus on gay representation in the boardroom. Cook's announcement, in an essay written for Bloomberg Businessweek, is a watershed since he is the first CEO of a major US corporation to make such a declaration. "I think the result is that it will make gay culture more mainstream," said Roger Kay of Endpoint Technologies Associates, a consultant and analyst who follows the tech sector.
US economic growth was robust in the third quarter, according to the first government estimate Thursday, appearing to underscore the Federal Reserve's decision to end its asset-buying stimulus program. The world's largest economy expanded at an annual rate of 3.5 percent in the July-September period as defense spending surged and exports climbed, narrowing the trade gap, the Commerce Department said. The economy contracted 2.1 percent in the first quarter largely due to severe winter weather. "Growth above three percent in four of the past five quarters is starting to look like a trend," said Ian Shepherdson of Pantheon Macroeconomics.