Expect plenty of heat at global-warming talks among the G8 industrialized countries scheduled to start Wednesday in the North Sea resort town of Heiligendamm, Germany. 

President George W. Bush did his best to ensure a contentious discussion when he made a surprise announcement last week about a planned U.S. climate-change initiative. If carried through, the plan would call for the United States to commit itself to a specific target for cutting emissions for the first time in history.

European leaders were cool to the U.S. initiative, the Financial Times reported. It is starkly different from a more aggressive proposal that Germany had planned to unveil at the summit.

The German plan would require leaders to commit to stringent emissions cuts to keep global temperatures from rising more than 2 degrees Celsius. Many believe Bush is trying to throw a wrench into the discussions at this week’s summit, as well as at U.N. negotiations on climate change, set to take place this December.

Back on the home front, two government-contracting powerhouses will be among the few companies left to report earnings this week. S.A.I.C. is scheduled to release quarterly earnings on Wednesday, and analysts are looking for earnings of 20 cents per share. DynCorp is due to report results the following day, and gains are forecast at 28 cents per share.

Productivity results for the month of May will be released on Wednesday. That figure is expected to show growth of 1.4 percent after a 1.7 percent rise in April.

On Thursday, consumer credit data will be released and is expected at $6 billion. The typically volatile statistic came in at $13.5 billion in March. April's trade report will be released on Thursday as well. After a $63.9 billion dip in March, the trade balance is expected to be down another $63 billion for April.