Waagner-Biro, the steel engineering company who constructed the remarkable steel dome over Jean Nouvel‘s Louvre Abu Dhabi, has announced insolvency, designboom reported. The Austrian firm’s financial issues are reportedly due to late payments and unexpected costs incurred by Louvre Abu Dhabi for the steel structure. The dome, which stretches 178 meters in diameter and is made from steel and aluminium, cost €80 million to construct.

Businesses are sidestepping tax bills amounting to tens of millions of pounds using an insolvency procedure that the government is considering banning, the Financial Times reported. That is the conclusion of an independent panel set up by the government to monitor the use of insolvency arrangements known as “pre-packs”. The Pre Pack Pool says some businesses have used the procedure to shed tax bills and pension liabilities.

Italy’s Prime Minister Giuseppe Conte said on Friday that the government’s priority is to protect jobs at Italian aircraft maker Piaggio Aerospace, and will discuss the matter in the coming hours. Piaggio Aerospace has asked the government to be put under special administration after a 2017 turnaround plan failed to produce the expected results, Reuters reported. The company, a unit of Abu Dhabi’s sovereign fund Mubadala, produces unmanned drones used by the Italian airforce.

Italian households have refused to help finance their government’s deficit-boosting budget, with a landmark retail bond sale proving to be a flop, the Financial Times reported. This week’s BTP Italia sale — which closes today after running for four days — has raised €2.2bn from retail and institutional investors, well below the usual €7 to 8bn scale that such bonds reach. The European Commission’s decision on Wednesday to move towards enforcement action against Italy over its budget proposals failed to entice a late wave of investors into the deal.

Eurozone consumers’ confidence is wavering, with a closely watched indicator of sentiment at its lowest level since March 2017 amid uncertainty over global economic growth and rising volatility in financial markets, the Financial Times reported. The European Commission’s headline consumer sentiment indicator dropped to -3.9 in November, having fallen sharply since the start of the year, according to official data published on Thursday. Economists polled by Thomson Reuters had expected a smaller decline, to -3.

With sterling debt investors shaken by the growing strain on the UK high street, British bed seller Dreams is turning to an unusual source of funding: Sweden. Owner Sun Capital Partners this week began marketing a €175m high-yield bond under Swedish law to fund a “dividend recapitalisation” of Dreams, a term for when private equity groups layer debt on a company to take money out for themselves, the Financial Times reported. The Florida-based firm bought the bed retailer out of administration five years ago and unsuccessfully sought to sell the business last year.

Struggling children’s goods retailer Mothercare on Thursday said negative press coverage in the past year had damaged its brand, causing sales in the UK to decline, the Financial Times reported. Mark Newton-Jones, chief executive, said that while he was not blaming the media for reporting the company’s difficulties, internal research “clearly showed that the Mothercare brand suffered damage from coverage of store closures”.

Italian aircraft maker Piaggio Aerospace has asked the government to be put under special administration after a 2017 turnaround plan failed to produce the expected results, the company said on Thursday, Reuters reported. “The prolonged uncertainty and present market conditions make the company no longer financially sustainable,” it said in a statement. Piaggio Aerospace, a unit of Abu Dhabi’s sovereign fund Mubadala, produces unmanned drones used by the Italian airforce.

Therium Group Holdings Ltd., a leading provider of litigation finance globally with over $800 million of assets under management, has appointed Stephen Akers to lead its insolvency funding practice, based in London, Litigation Finance Journal reported. Stephen is one of the world’s leading insolvency practitioners, with a career stretching more than three decades, in which he has worked on some of the most complex, multi-jurisdictional insolvency cases involving substantial litigation.

Greece is at risk of missing a first tranche of ECB profit returns on Greek bond holdings due to delays in the pace of privatisations despite over-performance on its fiscal targets, sources told Reuters on Tuesday. About 4.8 billion euros ($5.48 billion) of profits from Greek bonds held by the European Central Bank and other eurozone central banks are supposed to be channelled back to Athens by June, 2022, in semi-annual tranches, as agreed with Greece’s lenders under a post-bailout agreement, Reuters reported.