Tuesday newspaper round-up: BAE Systems, Co-op buyers, Ocado, Toshiba

BAE Systems is poised to confirm Charles Woodburn as its new chief executive in a widely anticipated move that marks a generational shift at the defence giant. Mr Woodburn, 45, who joined BAE Systems last year as its chief operating officer, has long been viewed as the heir apparent to Mr King, who has led the company since 2008. - Telegraph

Smaller lenders are circling Co-operative Bank looking to pick up bargains as it emerged that the stricken lender could have to raise almost £1bn in order to bolster its finances. OneSavings Bank and buy-to-let lender Paragon are interested in parts of the Co-op, but with Co-op seeking a buyer for all of its business, potential buyers could include Clydesdale, Banco Sabadell, Santander or private equity firms such as Cerberus. - The Times

The US national security advisor, Michael Flynn, resigned late on Monday night amid a flow of intelligence leaks that he had secretly discussed sanctions with the Russian ambassador to Washington and then tried to cover up the conversations. The resignation, with the Trump era less than four weeks old, is the latest and most dramatic convulsion in the most chaotic start to an administration in modern US history. - Guardian

A London council has signed a 15-year contract with a property developer to build housing in what is thought to be one of the first deals of its kind. Hammersmith and Fulham council is attempting to tackle the housing crisis by signing a 50-50 joint venture with Stanhope as councils try to build affordable housing for residents. - The Times

Toshiba is expected to confirm that it is withdrawing from new nuclear projects outside Japan, dealing a blow to plans for a new power station in the UK. The Japanese company has been reviewing its investment in overseas nuclear projects and is expected to make an announcement on Tuesday. - Guardian

One of Britain’s most influential investors has demanded an overhaul of the way the country’s largest infrastructure businesses are run, saying that reform could lead to lower prices. Hermes Investment Management said that utilities from water companies to electricity suppliers, as well as other major infrastructure providers, needed to improve corporate governance, which could help bring prices down if it meant utility businesses were better managed. - The Times

Ocado could be out of spare cash to execute an international licensing deal, according to an analyst who adds that short-term payouts to the online food retailer’s management may be unwarranted. In a bearish note to clients, Bruno Monteyne, of Bernstein, has questioned how Ocado, which delivers groceries from Waitrose and Wm Morrison, would finance any deal to license its proprietary technology to third-party overseas retailers. - The Times

3i, the owners of Agent Provocateur, are close to securing a buyer for the troubled lingerie chain. Advisers to the company, which took control of the firm in 2007, are understood to have drawn up a shortlist of three suitors, which includes former La Senza owner Lion Capital, specialist turnaround group Endless and French women's fashion brand Etam. - Mail

Pharmaceutical company Kaléo – already under fire for raising the price of an overdose antidote – now plans to put an alternative to the EpiPen on the market for more than seven times the cost of the leading $608 drug. Kaléo’s epinephrine injector, used to stop severe allergic reactions, will go on sale for $4,500 for a pack of two beginning on 14 February. - Guardian

Dyson has opened a research and development operation in Singapore that will result in hundreds of engineering jobs being created in Asia. The home appliances group said that the SG Technology Centre was part of a £330 million investment in which new products would be designed using artificial intelligence, so-called “machine learning” and software development. - The Times