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Monday Express: Fidelity, Worldpay to merge; Palomar Holdings files for $50M IPO


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Monday Express: Fidelity, Worldpay to merge; Palomar Holdings files for $50M IPO

* Financial technology companies Fidelity National Information Services and Worldpay are merging in a cash-and-stock deal that brings Worldpay's enterprise value to about $43 billion.

* Principal Financial Group is in talks to buy Wells Fargo's retirement plan service business for more than $1 billion, sources told Reuters. The potential deal may be announced in late March.

* Banking giants Citigroup and JPMorgan Chase in recent weeks closed down their trading desks that handle smaller-size corporate bonds in favor of algorithms that will now conduct such trades, sources told Bloomberg News.

* Goldman Sachs' new pretrial hearing related to its alleged role in the 1Malaysia Development Bhd. corruption and money laundering scandal was set on June 24, Bloomberg reports.

* Cboe Global Markets does not intend to add new bitcoin futures contracts for trading in March as it evaluates its approach on how to continue offering digital asset derivatives for trading.

* The Farm Credit Administration, Federal Deposit Insurance Corp., Federal Housing Finance Agency, Federal Reserve and Office of the Comptroller of the Currency adopted an interim final rule that would allow qualifying swaps to be transferred from a U.K. entity to an affiliate in the European Union or the U.S. without triggering new margin requirements.

* Asset manager Talimco and its former COO, Grant Rogers, agreed to a penalty of $325,000 and a fine of $65,000, respectively, for rigging the auction of a commercial real estate asset.

* Specialty property insurer Palomar Holdings filed for an initial public offering of up to $50 million of its common shares.

* The board of health service company Cigna urged shareholders to vote against shareholder proposals that seek a public report on cyber risk and the disclosure of gender pay gap.