Omnitek directors Gary S. Maier and John M. Palumbo resign

Hard Rock Holdco LLC now holds an 85.2% stake in Omnitek Engineering Corp, convertible into 750 million common shares. The firm secured two board seats, appointing Kevin Jay Hayes Jr. and Brett Kiker. Hard Rock aims to influence Omnitek's strategy and may discuss capital structure, business combinations, and further investments. The stake includes preferred equity and an asset exchange.

Ford, GM, and Stellantis shares declined during the week ending Oct. 23. GM's drop coincided with its earnings report and a $20 billion buyback announcement. The decline may reflect market reaction to earnings and broader sector trends.

bp agreed to pay Louisiana $350M to settle remaining Deepwater Horizon claims, accelerating payments under the 2015 settlement. The payment resolves coastal zone litigation and provides Louisiana with earlier access to funds. bp CEO Meg O’Neill noted the agreement supports the state's investment and job creation. The 2015 settlement totaled up to $18.7B, with $4.9B allocated to Gulf Coast states.

SK Hynix canceled plans for a $10 billion U.S. IPO of its Solidigm unit due to regulatory opposition and shareholder concerns, citing market conditions. The decision follows scrutiny over potential share dilution and ownership structure complexities. SK Hynix shares rose after the announcement, despite broader market declines. Solidigm, a major flash memory producer, had planned to list as soon as next year, aiming for a valuation of up to $100 billion.

American Express plans to cut about 3,500 jobs, or roughly 4.5% of its workforce, according to a company spokesperson. CEO Stephen J. Squeri previously estimated 5% cuts. The company reported a $336 million pretax restructuring charge in Q3, alongside a 28% rise in net income to $3.712 billion and 9% revenue growth to $20.062 billion. The company raised its full-year earnings-per-share outlook.

Nebius Group N.V. secured a $3.5B credit facility from Citi for infrastructure spending, with pricing starting at Term SOFR + 2.75%. The company also has $5.75B in convertible notes, which could lead to share dilution. Additionally, Nebius plans to exchange $800M in notes for shares. As of June 30, it had $10.04B in convertible-note principal and $8.04B in cash.