The bottom line

■■ In a striking example of the rise of index-fund investing, Vanguard’s Total Market Index fund became the first fund to exceed $1 trillion in assets, hitting $1.04 trillion at the end of November.

Bloomberg.com

■■ Analysts project Pfizer and Moderna will generate $32 billion in Covid-19 vaccine revenue in 2021. The U.S. government will pay $1.95 billion to Pfizer for the first 100 million doses of its vaccine.

CNN.com

■■ China reported a record trade surplus of $75.43 billion in November, propelled by an unexpected 21 percent surge in exports compared with last year. Leading the jump were exports to the United States, which climbed 46 percent to $51.98 billion, also a record. The New York Times

■■ Former Goldman Sachs president and White House chief economic adviser Gary Cohn has refused to return more than $10 million in back pay to Goldman. The bank has asked current and former top executives to forfeit $100 million in pay over the Malaysian 1MDB bribery scandal, which earned the bank a $2.9 billion fine.

Bloomberg.com

■■ Pinterest agreed to pay $22.5 million to its former chief content officer, Françoise Brougher, in one of the largest publicly announced individual gender discrimination settlements. Though she was a top executive, Brougher said, she was left out of meetings, was given gendered feedback, and was paid less than her male peers.

The New York Times

■■ MacKenzie Scott, the ex-wife of Amazon founder Jeff Bezos, has given away $4.2 billion of her $56 billion fortune in four months. The money was split between gifts to 384 groups.

CNBC.com