Avie Schneider

Updated at 9:47 a.m. ET Thursday

Jack Bogle, the founder of Vanguard who made investing and retirement affordable for millions, died Wednesday at the age of 89, the company said.

Bogle transformed the way people invest their money when he created the first index mutual fund for individual investors in 1975.

Updated at 12:18 p.m. ET

Commerce Secretary Wilbur Ross on Thursday announced a deal with Chinese telecommunications company ZTE that includes a $1 billion fine — a move that may indicate progress in high-stakes trade talks between the U.S. and China.