BRATISLAVA, Slovakia (AP) — Francesco Calzona walked away from the Slovakia coaching job after disagreeing with a contract extension on Monday.
Calzona’s contract expired on March 31 and the Slovakian Football Association offered him a two-year extension.
“(But) there was no agreement on the length of the cooperation,” the association said. “After an open mutual debate it was agreed that Francesco Calzona will not continue working with our national team.”
The former Napoli coach took over Slovakia in August 2022. Slovakia beat Germany 2-0 in World Cup qualifying and reached the playoffs but lost to Kosovo 4-3 last month. Calzona's last game in charge was a 2-0 friendly win over Romania on March 31.
Under 57-year-old Calzona, Slovakia came close to reaching the quarterfinals of a major tournament for the first time since becoming an independent state in 1993, at the 2024 European Championship in Germany. In the round of 16, Slovakia lost to England 2-1 after extra time.
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FILE - Slovakia's head coach Francesco Calzona applauds supporters at the end of a round of sixteen match between England and Slovakia at the Euro 2024 soccer tournament in Gelsenkirchen, Germany, June 30, 2024. (AP Photo/Ariel Schalit, File)
TORONTO (AP) — Canada is developing a government-owned investment fund, Prime Minister Mark Carney announced Monday.
Carney said the fund will invest in major Canadian industrial projects in areas such as energy, infrastructure, mining, agriculture and technology. It will begin at 25 billion Canadian dollars ($18 billion).
The prime minister said the federal government will put up funds alongside private investors. The money will help fund projects Carney's government is focused on building as Canada seeks to diversify away from the United States.
U.S. President Donald Trump has been threatening Canada’s economy and sovereignty with tariffs, most offensively by claiming Canada could be “the 51st state.”
Carney is former two-time central banker in England and Canada as well as chair of the board of directors for Bloomberg.
“We take a lesson from other jurisdictions that had the foresight many decades ago to start sovereign wealth funds,” Carney said, “In some cases they began with a domestic focus then outgrew the scale of the domestic focus.”
Sovereign wealth funds invest in assets such as stocks, bonds and real estate. They are typically funded by a country’s budgetary surplus, which Canada currently does not have. The announcement comes a day before the Carney government announces its spring economic update.
There are over 90 sovereign wealth funds around the world that manage over $8 trillion in assets, according to The International Forum of Sovereign Wealth Funds, a London-based organization made up of roughly 50 of these entities.
Trump ordered the creation of U.S. sovereign wealth fund last year. In the U.S., more than 20 sovereign wealth funds exist at the state level, according to an analysis by the Center for Global Development, a Washington-based nonpartisan think tank.
Canada Prime Minister Mark Carney speaks during an announcement on the Canada Strong Fund, Canada's first sovereign wealth fund, in Ottawa on Monday, April 27, 2026. (Justin Tang/The Canadian Press via AP)
Canada Prime Minister Mark Carney makes an announcement on the Canada Strong Fund, Canada's first sovereign wealth fund, at the Canada Science and Technology Museum in Ottawa on Monday, April 27, 2026. (Justin Tang/The Canadian Press via AP)
Canada Prime Minister Mark Carney speaks from a lectern beside a Canadian National Railways locomotive at the Canada Science and Technology Museum, during an announcement on the Canada Strong Fund, Canada's first sovereign wealth fund in Ottawa on Monday, April 27, 2026. (Justin Tang/The Canadian Press via AP)
Canada Prime Minister Mark Carney speaks during an announcement on the Canada Strong Fund, Canada's first sovereign wealth fund in Ottawa on Monday, April 27, 2026. (Justin Tang/The Canadian Press via AP)
Prime Minister Mark Carney responds to a question during an event in Ottawa on Thursday, April 23, 2026. (Adrian Wyld/The Canadian Press via AP)
