Hi Rose, welcome to the Cameralabs forums.
They're both great cameras and cost about the same, so it depends on comparing features, look and style.
The Canon G7 is much smaller and more pocketable but only has a 6x zoom.
The FZ50 is physically much bigger, but has a 12x zoom and a flip-out (albeit slightly smaller) screen.
I've compared both cameras and several other options in our Canon G7 verdict here:
You can see the FZ50's pros and cons in our verdict here:
http://www.cameralabs.com/reviews/Panas ... age6.shtml
We also have video tours of both cameras which give an idea of how the look work in practice...
Hope that helps!