Imani Moise

I'm Imani Moise for The Wall Street Journal.

The Labor Department proposed a regulation today that would open 401k and similar retirement plans to private equity and private credit.

It's a win for Wall Street firms.

They've pushed to make alternative investments more available to retail investors for years.

But the timing may raise eyebrows, given that there's been a lot of turbulence recently in the private credit market.

Treasury Secretary Scott Besant says the U.S.

plans to take control of the Strait of Hormuz eventually.

He said today that 30 ships passed through the critical Iranian waterway over the last two days.

That's eased some global supply constraints, but there's still a deficit of 10 to 12 million barrels of oil a day.

Besant says either American or multinational escorts could help traffic through the Strait.

And Air Canada says chief executive Michael Rousseau will retire this year.

There's been intense criticism of him and the company from Canadian Prime Minister Mark Carney and Quebec lawmakers after Rousseau spoke only in English in a video offering condolences for the fatal runway collision at LaGuardia Airport.

An airline spokesman says the departure isn't linked to the language flap.

The board of directors, which is looking for a new CEO, says the ability to speak French will be a consideration.

Heads Up, an artificial intelligence tool, helped us make this episode by creating summaries that were based on WSJ reporting and then reviewed and adapted by an editor.

We'll have more coverage of the day's news on the WSJ's What's News podcast.

You can add it to your playlist on your smart speaker or listen and subscribe wherever you get your podcasts.

Hey, listeners, it's Saturday, March 28th.

I'm Imani Moise for The Wall Street Journal.

And this is what's news in markets.