Briefs: Derivatives expert to manage Sentinel

WASHINGTON -- Frederick J. Grede, a former chief executive of the Hong Kong futures exchange, has been appointed to oversee operations of Sentinel Management Group Inc., a Northbrook-based $1.5 billion money-management firm that's facing fraud allegations by the Securities and Exchange Commission. Sentinel sought Chapter 11 protection from its creditors on Aug. 17. In a lawsuit, the SEC said Sentinel mixed at least $460 million of client funds into one of its own accounts.

Teamsters seek ban on Mexican trucks

WASHINGTON -- The Teamsters Union said Wednesday it will ask a federal appeals court to block the Bush administration's plan to allow Mexican trucks to carry cargo anywhere in the United States. The union said it has been told by officials in the Transportation Department's Federal Motor Carrier Safety Administration that the first Mexican trucks will be coming across the border on Saturday. "What a slap in the face to American workers, opening the highways to dangerous trucks on Labor Day weekend, one of the busiest driving weekends of the year," said Teamsters President Jim Hoffa.

Hyatt expands shareholder base

CHICAGO-- Tom Pritzker, chairman of Global Hyatt Corp., said Wednesday that Madrone Capital Partners, a private investment firm affiliated with Rob Walton and his family, and entities affiliated with Goldman Sachs Capital Partners have agreed to invest about $1 billion to acquire equity securities in Global Hyatt Corp. The investment will be used primarily to provide liquidity to the Pritzker family interests that currently own Hyatt.

Nokia unveils smarter phones

HELSINKI, Finland -- Nokia Corp. unveiled new services and cell phones Wednesday that customers can use to download music and play games, a bid by the world's largest mobile phone maker to challenge Apple Inc.'s higher-end iPhone, as well as iTunes and the iPod.