Are the unions to blame for France's lack of co-operation?

The class conflict view of things is very traditional in France Fabien Postel-Vinay, economist

The policeman refuses to be drawn on whether he will be voting for Nicolas Sarkozy or Segolene Royal on 6 May. Read original article

But he does offer his gloomy view on the state of the French economy:

France is in a mess. It'll take four or five years to sort it out.

Confrontation

If analysts at the World Economic Forum (WEF) are to be believed, those French commuters are heading for workplaces full of simmering tensions.

The WEF's latest Global Competitiveness Report puts France in 18th place out of 125 countries surveyed.

French commuters are heading for unhappy workplaces

That leaves it trailing behind the US and Japan, not to mention other big European Union economies such as Germany and the UK.

But in the category of "co-operation in labour-employer relations" - that is, how workers get on with their bosses - France comes bottom of the league, in 125th place.

Whereas countries such as Denmark and Singapore score highly for their "generally co-operative" relations, France is seen by the WEF as having the most confrontational workplace environment in the world.

"The class conflict view of things is very traditional in France," says economist Fabien Postel-Vinay. "Trade unions have been given a lot of bargaining power and they push this idea that there is a conflict of interest between employers and employees."

'Two-tier' system

Pay and conditions in France are covered by a highly-centralised system of collective bargaining.

The proportion of the workforce that actually belongs to a trade union is less than 10%.

However, thanks to a government decree dating from 1966, five big union confederations bargain on behalf of 95% of workers.

The unions themselves, of course, would prefer to have more members.

"It's a big problem for us, and that's why we have a big programme of unionisation," says Catherine Meyza, of the CGT union's Lille branch.

"We're strong in the public sector above all, but in other areas, such as people who work in shops or department stores, we're trying to establish ourselves."

Whether they are in a union or not, the collective bargaining system works very well for those who actually have jobs. But for the 8.4% of the population who do not - a figure that rises to 22% among the under-25s - it helps to keep them out of work.

"It's a two-tier labour market with a high level of employment protection and very little turnover," says Mr Postel-Vinay.

Reforms defeated

The law limiting the maximum working week to 35 hours, in force since February 2000, was intended to reduce unemployment, which then stood at more than 12%.

Although the jobless rate has indeed come down since then, few would attribute that to the 35-hour week, which has added another layer of social protection at a time when other developed economies have been deregulating.

FRANCE'S ECONOMY World's sixth-largest economy EU's biggest producer of agricultural products World's biggest wine producer GDP: 1,779bn euros ($2,233bn) (2006) Growth: 2.1% (2006) Inflation: 1.9% (2006) Trade deficit: 29.2bn euros ($39bn) (2006) Source: Reuters

Paradoxically, some surveys suggest that as French workers' job security has increased, their feelings of insecurity have actually been magnified.

When there is a very high level of employment protection, the risk of losing your job may be very low, but the cost of losing your job is very high... once you have lost a job it may be very tricky to find another.

In their determination to fend off any threat to their lifestyle, fractious French workers have faced down previous governments' attempts at economic reform.

In 1995, strikes and demonstrations forced Prime Minister Alain Juppe to abandon changes to the pension system and other austerity measures imposed in the run-up to European monetary union.

Last year, it was the turn of Dominique de Villepin's government to suffer humiliation, after protesting unions scuppered a law that would have allowed employers to sack anyone under 26 within the first two years of their employment.

Flexibility scorned

Young people arguably have the most to gain from any radical shake-up in the system. But instead, they seem to be demanding their own stake in the existing system, which Mr Postel-Vinay describes as "sclerotic" and "less and less sustainable".

In the first round, 34% of under-25s voted for Ms Royal, who favours state-subsidised jobs for young people, as against 19% for Mr Sarkozy.

"When French young people are asked what type of job they would like, they typically want public-sector jobs, because they feel they are more secure, although they are harder to get," says Mr Postel-Vinay.

"Young people would benefit from more flexibility, but I'm not sure that they are aware of that."

Back at Lille-Flandres station, 19-year-old Celine, who is studying English, says she would like to be an art teacher when she leaves college - exactly the kind of secure public-sector job that Mr Postel-Vinay was describing.

"But I don't expect to get that straight away," she says. "These days, if you have a job, you stick to it. There's no room for young people."

Debate Ségolène Royal and François Bayrou

Click here to watch the debate. (In French)

Standardise internal IT systems? Or jump for the cloud?

Tesco is rolling out standardised IT systems across its international operations, with two major projects already underway. Read original article

The giant retailer is implementing a set of new systems - dubbed 'Tesco in a box' - in Turkey and at its new US operation, due to open for business later this year.

Now in 13 countries, Tesco has grown through acquisition which means picking up legacy processes and systems along the way, according to the company's group technology and architecture director Mike Yorwerth.

Standardising systems across its international operations can offer "dramatic benefits", he said.

The retailer has developed an operational model - a set of processes and technologies that it wants to use in its business around the world. For IT this involves four main areas: planning and architecture, development of systems, deploying systems, and operation and support of IT.

Yorwerth said Tesco is deploying the full operational model from scratch in the US, while in Turkey, at the supermarket chain Kipa, it is working on a migration plan from its existing systems to the Tesco in a box systems.

Speaking at the CA World user conference in Las Vegas, Yorwerth told silicon.com: "We are doing US and Turkey this year and next year the Czech Republic, Slovakia, Malaysia and Thailand.

"It's a big job because in certain circumstances its changing the core commercial supply chain systems - it's a 12 to 18 month project."

Having standard systems across the world means innovations developed anywhere can be shared by the other countries. He added: "We do it once and roll it out 13 times."

I can see the sense in this for Tesco, a much more daring approach would be to have the whole system in the cloud... Do it once and roll it out once! I think that it is still early days for global enterprises to feel confident enough to try this with their precious data. I can see it coming though, and it will be a reality within the next few years.

Tesco is using products from CA as part of the project, including desktop management and security software, and products called Service Desk, Support Bridge and Network and Systems Management.

Yorwerth added: "Each company that we buy has a different stance on security and getting everyone to the same level is critical."

Ernst & Young to 'withstand globalisation'...

Ernst & Young will be able to withstand globalisation, according to its new chairman, reports Accountancy Age. Read original article

The seven area structure of the firm will allow protection against market and ownership movements, Mark Otty stated. See Ernst & Young's 2006 Global Review

In a directly opposite tactic, Ernst & Young's Big 4 rival KPMG has decided to merge its German and UK branches.

Mr Otty said: "The view we are taking is that there is so much going on in emerging markets that you can't afford to take a two-step approach.

"We haven't created one profit pool and I don't believe we would be able to in the current regulatory climate."

While the UK capital markets are currently thriving, this may not continue to be the case indefinitely Mr Otty cautioned.

While the last few years has seen a shift in activity across the Atlantic from the US to the UK, this activity could just as easily go elsewhere, he said.

Every member company of Ernst & Young Global is now part of one of seven areas, Continental Western Europe, Far East, Oceania and Japan, Americas, Northern Europe, Middle East, India and Africa, Central and Eastern Europe.

Economist Jeffrey Sachs on today's global challenges

Professor Jeffrey Sachs is an internationally-renowned economist and advisor to many governments around the world. Find out more about the 2007 Reith Lectures.

Aide to combat culture shock

Freshers' week can be daunting for many students, Mr Maniar says

A computer game has been devised to help overseas students deal with the culture shocks of university life in Britain, like seeing kissing in public. Read original article

Players of C-Shock have to complete a series of tasks a foreign student might face on their first day at university.

They include seeing people drinking alcohol and smoking, in a 3D recreation of the Portsmouth University campus.

One of its devisers, academic Nipan Maniar, said he hoped the game would help students know what to expect.

We thought we could devise a game that they could play on their mobile phone on the way here so they would know what to expect Nipan Maniar

The senior lecturer in the university's faculty of creative and cultural industries, who is Indian, said he experienced a "massive culture shock" himself when he came to Portsmouth in 2000 to do his MSc.

"It was not just the environment I was in, but the teaching - the relationship with tutors was very informal."

And many students from places like South Asia were often shocked to see women smoking, drinking and being friendly with the opposite sex, he said.

This week, an Indian court issued an arrest warrant for Hollywood actor Richard Gere for kissing Bollywood star Shilpa Shetty in public.

Mr Maniar went on: "I deal with many Indian students in my capacity as an international co-ordinator.

"They often ask for a long list of all the things they should bring with them to Portsmouth.

"Then when they arrive they become very worried and they don't know what to do - they can be really dependent.

"So we thought we could devise a game that they could play on their mobile phones on the way here so they would know what to expect - so they don't get so much of a culture shock."

Many overseas students are not used to seeing women drink

It could be a kind of e-mother or mobile mother, Mr Maniar added.

Fellow researcher Emily Bennett, who helped design the prototype of the game, says it has been well received by students.

She said a version could also be designed that would be useful for British students too.

"For the 18-year-old who is away from home for the first time, who is feeling disorientated and doesn't know where they are, it could help them as well."

If they could not find a building they needed to go to, instead of getting out a brochure or a map they could refer to the game instead, she said.

'Positive'

The game is the final stages of development but Mr Maniar is looking for a commercial sponsor to help produce it.

He also believes gaming could have a much greater role in university learning.

International students officer for the National Union of Students Issahaku Kotomah said: "International students can find it hard going, and some students do find elements of UK campus culture a bit of a shock.

"It is, ultimately, very positive that the needs of overseas students are being taken into consideration."

He said online games could be a powerful tool in helping international students acclimatise to life on a UK campus, as long as they are not solely about imposing a stereotype of campus life.

India rushes to invest in London

London has "great appeal" to foreign investors, the agency says

Foreign direct investment in London has jumped to £52bn from £38bn two years ago, with India now the second biggest source, a survey has said. Read original article

India accounted for 16% of all new foreign investment into the capital between 2003 and 2007, according to direct investment agency, Think London.

The US remained top, with 31% of new overseas investment in the capital.

But the agency warned that London must do more to promote itself in the face of emerging economies such as China.

Flow of FDI into London by country

London also needs to retain a competitive regulatory environment for business, the agency said, noting that the US has suffered recently from the introduction of tough financial reporting regulations.

The jump in investment from India put it ahead of France in third place. China jumped to fourth and Japan came fifth, highlighting the rapid growth of Asian-owned companies in the city in recent years.

'Strong brand'

Foreign-owned firms created nearly half of London's economic growth between 1998 and 2004, according to the report.

Workers at other foreign-owned companies were more than twice as productive as employees of other companies, it said.

The quality of infrastructure, availability of skills and strength of the business environment were given as reasons why foreign companies were choosing to invest in London.

"London today has a strong brand with great appeal to foreign investors," Think London said.

Remaining competitive

The report warned London must not become complacent

But it warned against complacency, noting that "if it is to remain competitive, London must evolve".

"Like any global brand, London needs to evaluate constantly what its FDI customers want, to differentiate itself from its competitors and to ensure that its product remains attractive."

The importance of remaining competitive in terms of taxation and regulation, was emphasised.

"You need only look at the United States to see how vulnerable FDI can be to changes in regulation," said Professor John Quelch of Harvard Business School.

"The New York stock exchanges, which have always attracted significant sums of FDI, have found that over-zealous regulation... has deterred foreign listings."

Businesses in the US have been critical of the Sarbanes-Oxley Act brought in after the collapse of Enron and other scandals. Companies have argued that the rules the Act brought in are too burdensome, making it harder for the US to compete internationally

London is set to overtake Paris and Chicago as the fourth largest economy among world cities by 2020, according to a recent report by PricewaterhouseCoopers.

BBC gets green light to go with the flow. On demand internet video service

The BBC has been given the go-ahead to launch its iPlayer on-demand service in November, paving the way for a transformation of the market for internet video in the UK. Read original article

The BBC Trust, the body established in January to regulate the state-funded broadcaster, said its first "public value test" had concluded the service would "create significant public value with limited market impact."

A "remarkable" 10,500 individuals and organisations responded to the consultation, the Trust said. Concerns raised by commercial rivals prompted the Trust to insist on two modifications to the original proposals.

"Series stacking" - allowing the iPlayer software to record all episodes of a series - will be limited to 15 per cent of all on-demand content, and the Trust will conduct six-monthly audits of the BBC’s progress in making the service available on all platforms.

Similar concerns about the BBC’s impact on competitors mean book readings and most classical music will be excluded from the iPlayer.

More than 1m people have watched a total of 20m programmes over Channel 4's on-demand service since its launch six months ago, far exceeding expectations and raising hopes for the nascent market as other broadcasters prepare to follow suit.

On Tuesday, Michael Grade, executive chairman of ITV, will unveil the results of the commercial broadcaster's £20m investment in ITV.com, which are expected to include a free catch-up service and pay-per-view previews, premium US imports and archive material.

According to independent producers, Channel 4 guaranteed them a minimum of £500,000 in revenues in the first year of the service but this was achieved after just four months.

"It has definitely taken off," said Sarah Rose, head of video-on-demand at Channel 4. "We were pleasantly surprised by people's willingness to pay."

The broadcaster's 4OD service, launched in October, is available online and via Virgin Media, BT Vision and Tiscali, and Channel 4 is holding discussions with British Sky Broadcasting to be included in the Sky Anytime on-demand service. "Distribution is the key to this," Ms Rose said.

Channel 4 would not reveal the number of viewers accessing the service over their computers but Ms Rose said she hoped rival initiatives would help expand the market for watching television online. "The iPlayer is going to get people used to watching what they want, when they want."

She would not say what revenue the service had brought in but said: "The real value in this for us and independent producers is about getting access to the archive." Channel 4 has been filling gaps in its schedule available on-demand by deals with US studios.

But it had also seen strong demand for programmes that attracted lower ratings on television but received good reviews in the following day's newspapers. Some rivals have criticised 4OD's online service because it is not compatible with all computer operating systems and browsers.

ITV, which told investors in March that ITV.com's selling point would be "simplicity and ease of use", is expected to make its service more widely accessible.

The BBC estimates that the iPlayer catch-up service will account for 7.5 per cent of all BBC television consumption by 2011, with another 3.8 per cent accounted for by "simulcasts" - simultaneous online broadcasts of its schedule.

Analysts at Enders Analysis last month said they believed this was "over-optimistic", and predicted the iPlayer would generate about 8 per cent of BBC viewing by 2011.

The traditional broadcasters are facing competition from online-only video services. Joost, created by the founders of Skype, is expected to launch this week with content from broadcasters including CBS and National Geographic.

Breakfast at Adolf's?

Last Friday, I had breakfast as usual at the Midland Hotel in Manchester, England. This is truly a magnificent building, Manchester's finest. The accommodation is fit for a King or even a Chancellor, even if he was German.

I looked up from my Financial Times newspaper to see a film crew all around me, a celebrity at last... No.

I started to talk to the film producer Dan Clapton of Goodboy Joey Films Ltd. It turned out that he was more interested in Adolf Hitler than me.

Adolf, he told me, had a relative in Livepool whom he visited. On Adolf's travel to England before the Second World War he visited Manchester and was very impressed with the Midland Hotel. This would make a fine home for me after my successful conquest of Britain, he thought. He gave instructions to the luftwaffe not to bomb the beautiful hotel or the area immediately around it. Manchester was blitzed but the building was not damaged. Unfortunately for him he lost the war and committed suicide. The Midland continued to be a grand hotel.

Dan's film is all about the above story and will be shown on television in September (ITV).

It is suprising how many people are still interested in Hitler. Every Saturday the Daily Express carries a two page spread devoted to him and the people around him.

Manchester the first industrial city in the world and home of Manchester United Football Club (now owned by the American Glazer Family) could have been the home town of "Herr Hitler". Now there is a thought. Not quite breakfast at Tiffany's.

The Midland is perhaps most famous for being the meeting place of Charles Stewart Rolls and Frederick Henry Royce leading to the formation of Rolls-Royce Limited in 1906. More recent celebrity stays include Paul McCartney, The Spice Girls, David and Victoria Beckham, George Best, Tom Jones, Pavarotti, Jennifer Lopez, Prince Edward, Manchester United footballer Fabien Barthez, and Prime Minister Tony Blair.

Dr Alan Mitton

US attacks unfair trade practices

Washington wants to see firmer Chinese action on counterfeiting

The US has said more than 60 of its main trading partners engage in unfair practices and that copyright theft in China remains its main concern. Read original article

In a report to Congress, the Office of US Trade Representative said US companies were facing "significant" barriers to trade and investment around the world.

It said it would refer China to the World Trade Organization unless it did more to protect intellectual property.

It also pledged to continue its fight to curb subsidies to planemaker Airbus.

'Barriers'

The US and European Union have been locked in a long-running stand-off about allegations of state subsidies to both Airbus and US rival Boeing.

Despite a number of successes in the past year, such as Vietnam's entry into the WTO, Washington said it was encountering unfair barriers and protectionism in 63 main trading partners, including the EU.

"A significant amount of work remains to knock down trade barriers and ensure that American exporters have new economic opportunities around the globe," said Susan Schwab, the US Trade Representative.

Key priorities for the year ahead include working with Beijing to ensure tougher enforcement of copyright across a range of industries and curbing what the US says are unfair subsidies given to medium-sized Chinese firms.

AT&T and Mexican Affiliate Seek Stake in Telecom Italia

MILAN, April 2 — AT&T and its Mexican affiliate, América Móvil, have bid more than $6 billion for control of Italy’s largest cellphone company, Telecom Italia.
Read more

Welcome to Experian - The Future of Advertising

Our vision is for Experian's people, data and technology to become a necessary part of every major consumer economy around the world. The recent demerger of Experian from GUS has enabled investors to participate directly in our future as an independent company. We look forward to continuing to develop our business for the benefit of all our stakeholders.

See website.

Experian Group was in demand Monday 2nd April after a private equity consortium swooped for an overseas rival.See original article in the FT

Its shares advanced 3.2 per cent to 604½p – the biggest rise in a flat FTSE 100 – after Pacific Equity Partners and a Merrill Lynch buy-out fund agreed to acquire Veda Advantage, the biggest credit checking company in Australia and New Zealand, for $660m.

Although small, traders said, the deal highlighted the attraction of credit checking companies for buy-out funds.

Experian was rumoured to have been the subject of a £7bn bid from Thomas H Lee and Bain before being demerged from GUS in October.

Analysts said the bid for Veda valued the company at 22 times earnings whereas Experian was trading on 18 times prospective earnings before Monday’s gains.

US and South Korea agree on Trade Deal

KEY ELEMENTS OF THE DEAL

• Cars: Korean firms such as Hyundai and Kia will get more access to US consumers
• Technology: Korean TV manufacturers and mobile phone firms may benefit from lower taxes
• Agriculture: The deal could hit Korean farmers as duties on imported beef are scrapped. But rice imports are excluded

Read more

Special Report :
The Battle Over Trade
US attacks unfair trade practices

Sam Zell to buy LA Times

Sam Zell sold his company for $36bn last year

The Los Angeles Times newspaper has agreed to be bought by real estate magnate Sam Zell. Read original article

Mr Zell, who sold his own property firm last year, won the $8.2bn (£4.14bn) bidding war for Tribune Corporation and will become its largest shareholder.

He beat off fierce competition from businessmen Eli Broad and Ron Burkle, who also bid for the firm's assets.

The US newspaper industry has been suffering from falling sales and advertising revenues in recent years.

Ownership kudos

Tribune launched a strategic review of its business last year, a move which analysts said would eventually result in the sale of the entire company or its break-up.

TRIBUNE NEWSPAPERS Los Angeles Times Chicago Tribune Newsday Baltimore Sun Orlando Sentinel Hartford Courant

The group's other major publications include the Baltimore Sun, while the company also owns a portfolio of 25 TV stations and the Chicago Cubs baseball team, the last of which will be sold off separately.

The interest shown in Tribune has been surprising given the sector's recent struggles, although newspaper ownership still carries with it significant prestige and social kudos.

Following the deal - which requires shareholder and regulatory approval - Mr Zell will control about 40% of the firm's shares.

Employees will own a significant minority stake in the business.

Tribune said the deal would enable it to invest in its long-term future with more certainty.

"As a private company, Tribune will have greater flexibility to transform our publishing, interactive and broadcasting businesses with an eye toward long-term growth," said Dennis FitzSimons, the firm's chief executive.

Consolidation

Newspaper publishers have struggled to react as classified advertising, the bedrock of their business, has gradually migrated to the internet.

These problems have led to a wave of consolidation.

Knight Ridder, publisher of the Miami Herald and Philadelphia Inquirer, was bought for $4.5bn last year by rival McClatchy.

Sam Zell founded real estate firm Equity Office Properties Trust which was bought last year by private equity firm Blackstone for $36bn.

Bill Gates : Managing a really big organisation

• Microsoft employs more than 50,000 people.
• Read original article on CNN Money

The screen on the left has my list of e-mails. On the center screen is usually the specific e-mail I'm reading and responding to. And my browser is on the right-hand screen. This setup gives me the ability to glance and see what new has come in while I'm working on something, and to bring up a link that's related to an e-mail and look at it while the e-mail is still in front of me.

At Microsoft, e-mail is the medium of choice, more than phone calls, documents, blogs, bulletin boards, or even meetings (voicemails and faxes are actually integrated into our e-mail in-boxes).

I always see a write-up from my assistant of any other e-mail, from companies that aren't on my permission list or individuals I don't know.

I use SharePoint, a tool that creates websites for collaboration on specific projects. These sites contain plans, schedules, discussion boards, and other information, and they can be created by just about anyone in the company with a couple of clicks. SharePoint keeps me in touch with lots of people deep in the organization. It's like having a super-website that lets many people edit and discuss—far more than the standard practice of sending e-mails with enclosures. And it notifies you if anything comes up in an area you're interested in.

Desktop search has really increased my productivity. It has transformed the way I access information on my PC, on servers, and on the Internet. With larger hard drives and increasing bandwidth, I now have gigabytes of information on my PC and servers in the form of e-mails, documents, media files, contact databases, and so on.

Instead of having to navigate through folders to find that one document where I think a piece of information might be, I simply type search terms into a toolbar and all the e-mails and documents that contain that information are at my fingertips. The same goes for phone numbers and email addresses.

Paper is no longer a big part of my day. When I go to a meeting and want to jot things down, I bring my Tablet PC. It's fully synchronized with my office machine so I have access to all the files I need. It also has a note-taking piece of software called OneNote, so all my notes are in digital form.

Days are often filled with meetings. It's a nice luxury to get some time to go write up my thoughts or follow up on meetings during the day. But sometimes that doesn't happen. So then it's great after the kids go to bed to be able to just sit at home and go through whatever e-mail I didn't get to. If the entire week is very busy, it's the weekend when I'll send the long, thoughtful pieces of e-mail. When people come in Monday morning, they'll see that I've been quite busy— they'll have a lot of e-mail.

Photo archives become a Challenge at Corbis

Corbis, started by Bill Gates in 1989, owns millions of images, some of them kept underground in a former limestone mine in rural Pennsylvania. More Photos >

In some sense, the iconic photograph of Rosa Parks recreating her quiet act of rebellion on a bus in Montgomery, Alabama, belongs to every American. Actually, it belongs to Bill Gates. Read original article.

Multimedia

See slide show

Arthur Sasse/Corbis

Marilyn Monroe during the filming of “The Seven Year Itch.” More Photos »

Anyone wanting to use that image in a book or on a Web site must first license it from Corbis, a corporation founded and owned by Mr. Gates, who is better known for starting Microsoft. The photo is among the 11 million prints and negatives in the legendary Bettmann archive, which Corbis bought in 1995.

Since that first purchase, Corbis has spent tens of millions of dollars acquiring image collections and other companies, hired more than 1,000 people and set up two dozen offices worldwide. Although Corbis says it brings in some $250 million a year in sales, it has yet to turn a profit.

Corbis has built up a formidable stash of historical photos, including those in the Bettmann Archive. In 1999, Corbis acquired the licensing rights to the Sygma collection in France, and two years ago it did the same with a German stock image company called Zefa. It licenses those images for an average of about $250 apiece.

Corbis also owns digital reproduction rights for art from the Hermitage Museum in St. Petersburg, Russia, the Philadelphia Museum of Art and the National Gallery in London.

In all, Corbis represents or owns the rights to more than 100 million images, including some of the most famous photographs ever — Arthur Sasse’s photo of Einstein sticking his tongue out and Marilyn Monroe on the subway grate. And Corbis handles the licensing of millions of other images on behalf of thousands of photographers.

The archival photos bring in about half of Corbis’s sales, but the company also has a stable of professional photographers who generate stock photos for advertising and media clients — images of children on playgrounds, people sitting in business meetings and men in khakis swinging golf clubs.

The times they are a changin' and Corbis is facing its biggest challenges yet from the rise of microstock agencies like Fotolia and iStockPhoto. These sites take advantage of the phenomenon known as crowdsourcing, or turning to the online masses for free or low-cost submissions. Thousands of amateur and semiprofessional photographers armed with high-quality digital cameras and a copy of Photoshop contribute photographs to microstock sites, which often charge $1 to $5 an image. (Corbis charges $250 per image on average)

“More interesting and innovative things are happening on the pages of Flickr these days than on Corbis and Getty. If we can use this type of opportunity to find the next great group of Corbis photographers, that also makes it a great opportunity for us.”

Gary Shenk, president and chief executive of Corbis

Read more

Zoom launches £129 New York trip

Zoom's US flights are scheduled to take off from Gatwick in July

A price war for budget transatlantic flights could be on the cards after an airline said it would offer a London to New York service for £129 one-way.

The carrier, Zoom, will begin flights from London Gatwick on 21 June.

In addition, budget airline Ryanair has said it is now eyeing a transatlantic service within three to four years, with flights from 10 euros (£6.80).

The news comes ahead of an "open skies" deal allowing more US-Europe flights from March 2008.

'Good availability'

Zoom, which already operates from five UK airports to Canada, said it aimed to become the UK's leading budget transatlantic carrier by undercutting the likes of BA and Virgin Atlantic.

Co-owner Hugh Boyle, the Scottish entrepreneur who started the firm with his brother John, told the BBC that more than 25% of seats would be available at the lowest price.

"It's across the board on all dates. It's not a low season date, it's not just if you go in November or on a Tuesday.

"Every flight on every date will have a good availability of seats at £129."

Passengers will be able to upgrade for £99, the airline said.

The past year has seen the launch of three business class-only airlines - Silverjet, EOS and Maxjet - flying between London and New York.

Tip Sheet: Pink-Slip Protocol

Here's how employers can play fair and protect themselves from legal repercussions at the same time

Companies that terminate employees the way that Donald Trump does on The Apprentice are courting legal disaster. In the real world, employment attorneys recommend a more cautious process. Here are some key steps they suggest you take before you fire someone.

Case in Point

How the threat of litigation is making companies skittish about axing problem workers. Would you have dared fire Hemant K. Mody?


In February, 2003, the longtime engineer had returned to work at a General Electric Co. (GE ) facility in Plainville, Conn., after a two-month medical leave. He was a very unhappy man. For much of the prior year, he and his superiors had been sparring over his performance and promotion prospects. According to court documents, Mody's bosses claimed he spoke disparagingly of his co-workers, refused an assignment as being beneath him, and was abruptly taking days off and coming to work late.

But Mody was also 49, Indian born, and even after returning from leave continued to suffer a major disability: chronic kidney failure that required him to receive daily dialysis. The run-ins resumed with his managers, whom he had accused flat out of discriminating against him because of his race and age. It doesn't take an advanced degree in human resources to recognize that the situation was a ticking time bomb. But Mody's bosses were fed up. They axed him in April, 2003.

The bomb exploded last July. Following a six-day trial, a federal court jury in Bridgeport, Conn., found GE's termination of Mody to be improper and awarded him $11.1 million, including $10 million in punitive damages. Read more.