Yen resumes fall after G20, earnings worries hit stocks

LONDON (Reuters) - The yen resumed falling on Monday after Japan signaled it would push ahead with expansionist monetary policies having escaped criticism from the world's 20 biggest economies at the weekend.

European shares and industrial metals dropped on lingering worries about the economic outlook, especially for the euro zone. The risk of an inconclusive outcome in Italian elections at the weekend also added to investor concerns.

However, activity was curtailed by the closure of markets in the United States for the Presidents' Day holiday.

The yen, which has dropped 20 percent against the dollar since mid-November, fell further after financial leaders from the G20 promised not to devalue their currencies to boost exports and avoided singling out Japan for any direct criticism.

"Future yen direction will continue to be driven by domestic monetary policy from the Bank of Japan and improving international investor confidence, which are both driving the yen weaker," said Lee Hardman, currency analyst at Bank of Tokyo-Mitsubishi UFJ.

Japan's prime minister Shinzo Abe seized the opportunity to keep pressure on the central bank to loosen policy, telling the Japanese parliament that buying foreign bonds could be among options the Bank of Japan could adopt.

The result was the dollar rising 0.5 percent to 93.98 yen, near a 33-month peak of 94.47 yen set a week ago. The euro rose 0.2 percent to 125.32 yen, roughly midway between Friday's two-week low of 122.90 and a 34-month high of 127.71 yen hit earlier this month.

Strategists said that while the yen was likely to stay weak, its decline could lose momentum as investors wait for more clarity on who will be taking the helm at the Bank of Japan when the current governor steps down on March 19.

"The big unknown is who will get appointed as the new BoJ governor, so it is difficult to put on massive positions beforehand," said Saeed Amen, currency strategist at Nomura.

Abe is poised to nominate the new governor in the coming days. Sources have told Reuters that former financial bureaucrat Toshiro Muto, considered likely to be less radical than other candidates, was leading the field.

Elsewhere in the currency market, sterling hit a seven-month low against the dollar, after a key policymaker made comments about the need for further weakness and recent poor data which has kept alive worries of another British recession.

Sterling fell 0.15 percent to $1.5492 having earlier touched $1.5438, its lowest since July 13.

DATA LOOMS

A big week for data on the outlook for the world's economy weighed on other riskier asset markets following the recent dire fourth-quarter growth numbers for the euro zone and Japan, along with Friday's soft U.S. manufacturing figures.

In European markets, attention is focused on the euro area Purchasing Managers' Indexes for February and German sentiment indices due later in the week. These could affect hopes for a recovery this year.

Analysts expect Thursday's euro area flash PMI indices, which offer pointers to economic activity around six months out, to show growth stabilizing across the recession-hit region, leaving hopes for a recovery in the second half of 2013 intact.

Concerns over an inconclusive outcome in the Italian elections on Sunday and Monday have added to the weaker sentiment as a fragmented parliament could hamper a future government's efforts to reform the struggling economy.

The worries about the outlook for Italy were encouraging investors back into safe-haven German government bonds on Monday, with 10-year Bund yields easing 3.6 basis points to be around 1.63 percent.

"Political uncertainty will keep Bunds well bid this week," ING rate strategist Alessandro Giansanti said, adding that only better than expected economic data could create selling pressure on German debt in the near term.

Italian 10-year yields were 7 basis points higher on the day at 4.44 percent.

EARNINGS HIT

European equity markets were taking their lead from corporate earnings reports which have been reflecting the sluggish economic conditions across the region.

Danish brewer Carlsberg , which generates just over 60 percent of its sales in western Europe, became the latest to report a weaker-than-expected quarterly profit, sending its shares to their lowest level in almost a month.

The 6.8-percent drop for shares in the world's fourth biggest brewery helped send the FTSEurofirst 300 index <.fteu3> of top European shares down 0.3 percent at midday. Germany's DAX <.gdaxi>, France's CAC-40 <.fchi> and UK FTSE-100 <.ftse> ranged between 0.1 percent up and 0.3 percent lower.

Earlier, the effect of the G20 statement and the comments from Abe indicating a renewed drive to stimulate the Japanese economy lifted the Nikkei stock index <.n225> by 2.1 percent, near to its highest level since September 2008.

MSCI's world equity index <.miwd00000pus> was flat as markets extended a two-week period of consolidation that has followed the big run-up in January, when demand was buoyed by the efforts of central banks to stimulate the world economy.

Data from EPFR Global, a U.S.-based firm that tracks the flows and allocations of funds globally, shows investors pulled $3.62 billion from U.S. stock funds in the latest week, the most in 10 weeks after taking a neutral stance the prior week.

But demand for emerging market equities remained strong, with investors putting $1.81 billion in new cash into stock funds, the fund-tracking firm said.

CHINA RETURN

In the commodity markets, traders played catch-up after a week-long holiday last week in China, the world's second biggest consumer of many raw materials, which had kept activity subdued, with worries about the economic outlook weighing on sentiment.

Copper, for which China is the world's largest consumer, dipped to a near three-week low of $8,127.50 a metric ton (1.1023 tons) on the London futures market. Benchmark tin and nickel also touched three-week lows.

Bargain hunters helped gold rise from a six-month low to be up 0.2 percent to $1,611.87 an ounce with jewelers in China returning to the physical market after the Lunar New Year holiday.

Crude oil markets were mostly steady after some weak U.S. industrial production data on Friday [ID:nL1N0BF44A] was seen dampening demand, while tensions in the Middle East lent some support.

"We continue to see a mixed picture out of the United States. Industry output was lower than expected but that shouldn't affect the general upward direction," Olivier Jakob, analyst at Geneva-based Petromatrix, said.

Brent crude was flat at $117.66 a barrel after posting its first weekly loss since the first half of January. U.S. crude slipped 19 cents to $95.67.U.S. crude.

(Additional reporting by Marius Zaharia and Ron Bousso. Editing by Philippa Fletcher)

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West beats East 143-138 in NBA All-Star Game

HOUSTON (AP) — The NBA's career scoring leader in the All-Star game, Kobe Bryant has never been just about offense.

"I'm known for my defense," Bryant said. "I can defend. I'm pretty smart with my defense."

Pretty good, too. Ask LeBron James.

Bryant blocked James' jumper, turning it into a dunk by Kevin Durant that helped the Western Conference put away the East 143-138 on Sunday.

Bryant may not leap like Blake Griffin, but he can still get up when he needs to, especially when the defenseless part of the All-Star game is over and it's time to stop somebody — even the league's best player.

On Michael Jordan's 50th birthday, the players most often compared to him turned the final minutes into a 1-on-1 duel, and it went to Bryant — the guy Jordan said he'd pick between the two based on his five championship rings. That's one less than MJ and four more than King James.

"It was a great block," Durant said. "I haven't really seen any MVP get a jumper blocked like that. It was a really great play."

Chris Paul had 20 points, 15 assists and won MVP honors, and Durant scored 30 points. Griffin finished with 19, joining his Clippers teammate, Paul, in creating Lob City deep in the heart of Texas.

"You just want to play fast. I like to throw the lob. I like to see guys hit 3s," Paul said. "When we're out on the court with all that firepower, why wouldn't you want to make passes? You've got KD filling one of the lanes, you've got Blake, Kobe on the wing. There's nothing like it."

Bryant added a second late block of James, the MVP of the 2006 game here after leading a big East comeback. This time, he scored 19 points but shot only 7 of 18 after making 60 percent of his shots in six straight games before the break.

Carmelo Anthony led the East with 26 points and 12 rebounds.

"I think we played really good defense at the end of the game as a team," Durant said. "Kobe was really going with the ball. It's tough to stop LeBron, but he did his best. He was able to block a few of his shots. But CP did a really good job of keeping us in the game."

The first dunk of the game came 16 seconds in, Paul throwing a pass to Griffin as part of the West's 7-0 start. The West led after each of the first three quarters, though was never ahead by more than eight points through three periods.

They finally pushed it into double figures early in the fourth fueled by former Oklahoma City teammates Russell Westbrook and James Harden, but couldn't put it away until a late run behind the guys from the city of Los Angeles — who along with Lakers center Dwight Howard gave Los Angeles all but one of the West's starting spots.

Paul hit two 3-pointers, Bryant made a layup, and his block of James led to Durant's dunk that made it 136-126. Griffin had one last forceful dunk to help close it out, throwing a pass to himself off the backboard and climbing high in his neon green sneakers to slam it home and make it 142-134.

Harden had 15 points in his home arena, where the sights of the game were on the floor and the sounds were at the rim — which shook repeatedly after thunderous dunks for most of the game before, as usual, players tried to make some stops down the stretch.

Players' sneakers were a variety of pastels and fluorescent colors that looked like they came right from Easter Sunday church, many clashing so badly with their multi-colored socks that they may as well have been created by spilling out random paint buckets.

James and Dwyane Wade wore purple, and Griffin's neon look was also sported by the usually not-so-loud Tim Duncan and Brook Lopez.

But the NBA's high-flyers sure could leap in them.

Durant slammed one down so hard at one point that he stumbled backward after landing, appearing woozy. He came in as the career leader in points per game with 28.3 and may have won a second straight MVP award if not for Paul's big finish.

But the Kobe-LeBron matchup down the stretch showed that even in an All-Star game, when it's time to determine a winner, the 34-year-old Bryant is all business.

"It was all in good spirit, man. It was just two guys that love to compete, love to go at it. So I had a lot of fun," said James, who at 28 has plenty of time to catch up to Jordan and Bryant in when it comes to NBA championships.

Bryant finished with only nine points, but had eight assists. Griffin shot 9 of 11 from the field and didn't miss until trying to violently throw one down from a few feet away from the basket.

Indiana's Paul George scored 17 and Kyrie Irving had 15 for the East.

Not everybody had it so easy. Chris Bosh shot two airballs in the first quarter and was booed, tossed up another in the second, and had Tony Parker dribble the ball through his legs on defense. He was even pulled down the stretch by his own coach, Erik Spoelstra, right after Bryant blew right by him for a layup.

Bosh finished 3 of 9. Wade had 21 points on 10-of-13 shooting, the best performance of the three Heat players in the starting lineup. He and James helped the East pull out a two-point win in the 2006 game here, but the West didn't play Bryant-level defense back then.

"Second time in Houston, it was great," Wade said. "We didn't get the win, but we are all winners, because all 24 of us are All-Stars. So it was great."

There were plenty of laughs, players performing comedic skits and poking fun at each other on the Toyota Center's massive overhead scoreboard. Even the celebrities that surrounded the court — Westbrook almost crashed into Beyonce and Jay-Z while trying for a first-half steal — seemed entertained.

Two of Houston's biggest basketball stars, Hakeem Olajuwon and Yao Ming, who was honored after the first quarter, and Olympic gold medalists Usain Bolt and Gabby Douglas were among the athletes who weren't in the game.

Players wore warmup jackets with patches commemorating their individual and team career accolades during a lengthy pregame that included a performance by Ne-Yo. They actually warmed up twice, needing to get loose again after watching and being introduced during the elaborate show.

The game capped a weekend of change in Texas, where David Stern presided over his final All-Star game as commissioner and players' association executive director Billy Hunter was voted out of office — a result he seems likely to contest.

Boston's Kevin Garnett said before coming to Houston he thought his 15th All-Star selection would be his last, and turned it over to the young guys early. He played only 6 minutes of the first half before calling it a night.

___

Follow Brian Mahoney on Twitter: http://www.twitter.com/Briancmahoney

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Model: Getting what I don't deserve

STORY HIGHLIGHTS

• Model Cameron Russell's TED Talk has been viewed more than a million times


• She says, as winner of "genetic lottery," she has been able to have a modeling career


• Her looks fit a narrow definition of beauty, she says


• Russell: I work hard but my modeling career gives my views undeserved attention

Editor's note: Cameron Russell has been a model for brands such as Victoria's Secret, Calvin Klein, Ralph Lauren and Benetton and has appeared in the pages of Vogue, Harpers Bazaar and W. She spoke at TEDx MidAtlantic in October. TED is a nonprofit dedicated to "ideas worth spreading" which it makes available through talks posted on its website.

(CNN) -- Last month the TEDx talk I gave was posted online. Now it has been viewed over a million times. The talk itself is nothing groundbreaking. It's a couple of stories and observations about working as a model for the last decade.

I gave the talk because I wanted to tell an honest personal narrative of what privilege means.

I wanted to answer questions like how did I become a model. I always just say, " I was scouted," but that means nothing.

The real way that I became a model is that I won a genetic lottery, and I am the recipient of a legacy. What do I mean by legacy? Well, for the past few centuries we have defined beauty not just as health and youth and symmetry that we're biologically programmed to admire, but also as tall, slender figures, and femininity and white skin. And this is a legacy that was built for me, and it's a legacy that I've been cashing in on.

Some fashionistas may think, "Wait. Naomi. Tyra. Joan Smalls. Liu Wen." But the truth is that in 2007 when an inspired NYU Ph.D. student counted all the models on the runway, of the 677 models hired, only 27, or less than four percent, were non-white.

Usually TED only invites the most accomplished and famous people in the world to give talks. I hoped telling a simple story -- where my only qualification was life experience (not a degree, award, successful business or book) -- could encourage those of us who make media to elevate other personal narratives: the stories of someone like Trayvon Martin, the undocumented worker, the candidate without money for press.

Instead my talk reinforced the observations I highlighted in it: that beauty and femininity and race have made me the candy of mass media, the "once you pop you just can't stop" of news.

In particular it is the barrage of media requests I've had that confirm that how I look and what I do for a living attracts enormous undeserved attention.

Do I want a TV show? Do I want to write a book? Do I want to appear in a movie? Do I want to speak to CNN, NBC, NPR, the Times of India, Cosmo, this blogger and that journal? Do I want to speak at this high school, at that college, at Harvard Law School or at other conferences?

TED.com: A teen just trying to figure it out

I am not a uniquely accomplished 25-year-old. I've modeled for 10 years and I took six years to finish my undergraduate degree part-time, graduating this past June with honors from Columbia University. If I ever had needed to put together a CV it would be quite short. Like many young people I'd highlight my desire to work hard.

But hard work is not why I have been successful as a model. I'm not saying I'm lazy. But the most important part of my job is to show up with a 23-inch waist, looking young, feminine and white. This shouldn't really shock anyone. Models are chosen solely based on looks. But what was shocking to me is that when I spoke, the way I look catapulted what I had to say on to the front page.

Even if I did give a good talk, is what I have to say more important and interesting than what Colin Powell said? (He spoke at the same event and his talk has about a quarter of the view count.)

TED.com: Isaac Mizrahi on fashion and creativity

Like many young people I believe I have potential to make a positive impact in the world. But if I speak from a platform that relies on how I look, I worry that I will not have made room for anyone else to come after me. I will have reinforced that beauty and race and privilege get you a news story. The schoolteacher without adequate support, the domestic worker without rights, they won't be up there with me.

So what do I do? I am being handed press when good press for important issues is hard to come by. These outlets are the same outlets that spent two years not reporting a new drone base in Saudi Arabia while press in the UK covered it.

They are the same organizations that have forgotten New Orleans and forgotten to follow up on contractors who aren't fulfilling their responsibilities there -- important not only for the people of NOLA, but also for setting a precedent for the victims of Sandy, and of the many storms to come whose frequency and severity will rise as our climate changes.

TED. com: Amy Tan on where creativity hides

Should I tell stories like these instead of my own? I don't feel like I have the authority or experience to do so.

How can we change this cycle? The rise of the Internet and the camera phone have started to change what stories are accessible. And we now have the ability to build more participatory media structures. The Internet often comes up with good answers to difficult questions. So I ask: How can we build media platforms accessible to a diversity of content creators?

On a personal note, what should I talk about? Do I refuse these offers outright because of my lack of experience, because I'm not the right person to tell the stories that are missing from the media? Can I figure out a way to leverage my access to bring new voices into the conversation? Right now I'm cautiously accepting a few requests and figuring out what it all means.

I'm listening, tweet me @cameroncrussell

Follow @CNNOpinion on Twitter.

Join us at Facebook/CNNOpinion.

The opinions expressed in this commentary are solely those of Cameron Russell.

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Romanian film “Child’s Pose” wins Berlin Golden Bear

BERLIN (Reuters) – “Child’s Pose”, a Romanian drama about a domineering mother using her social position to try to save her son from jail, won the Golden Bear for best picture at the Berlin film festival on Saturday.

The movie, directed by Calin Peter Netzer and starring Luminita Gheorghiu in the central role, had been among the favorites for the coveted prize, which extends the remarkable success of Romanian filmmakers on the European festival circuit.

The awards ceremony brought to a close the 11-day cinema showcase, where hundreds of movies were screened across Berlin and stars including Matt Damon, Nicolas Cage, Anne Hathaway, Jude Law and Catherine Deneuve walked the red carpet.

In “Child’s Pose”, Gheorghiu shines as the wealthy 60-year-old Cornelia, who attempts to buy off the poor family of a boy killed by her son in a road accident.

The veteran actress also appeared in Cristian Mungiu’s “4 Months, 3 Weeks and 2 Days”, a grisly abortion drama that put Romanian cinema firmly on the international map when it won the Palme d’Or at the Cannes film festival in 2007.

“I’m still shell-shocked,” Netzer told reporters after the ceremony. “I haven’t quite woken up to this new reality. It will probably take a couple of days for it to sink in.”

The big surprise on the night was the best actor award for Nazif Mujic, a Bosnian Roma who had to be convinced to play himself in “An Episode in the Life of an Iron Picker” about his own experiences on the fringes of society.

The movie, a docu-drama directed by Danis Tanovic and made for 30,000 euros ($ 40,100), captured hearts in Berlin for its straightforward storytelling and moving account of the impoverished Mujic’s desperate attempts to pay for his wife’s emergency operation.

“FEELS LIKE NEIL ARMSTRONG”

Tanovic, an Oscar winner for his 2001 war movie “No Man’s Land”, read about the story in a local newspaper in 2011 and was so angry at Bosnian society’s apparent lack of humanity that he determined to make a film about it.

“I think he (Mujic) feels like Neil Armstrong when he went to the moon, seriously,” Tanovic said of his star. “And I really do hope it is going to change his life for the better.”

Arguably the most popular winner at the 63rd Berlin film festival was Paulina Garcia, the Chilean actress whose portrayal in “Gloria” of a 58-year-old divorcee in Santiago was the highlight for many festival-goers and won her best actress.

Refusing to retire quietly into the background, Gloria drinks, smokes, parties and enjoys sex, all the while holding down a full time job and keeping in touch with her children.

The powerful older woman was a constant theme throughout the main competition of 19 films eligible for prizes, and Garcia was up against Gheorghiu and French actresses Catherine Deneuve and Juliette Binoche for the acting Silver Bear.

Best director went to U.S. filmmaker David Gordon Green for his touching road movie “Prince Avalanche”, in which Paul Rudd and Emile Hirsch play a pair of misfits who go to work in a remote forest where they embark on a journey of self-discovery.

Iranian entry “Closed Curtain” picked up the best script prize for directors Kamboziya Partovi and Jafar Panahi. Panahi made the movie in secret in defiance of a 20-year filmmaking ban and was not allowed to travel to Berlin to collect his award.

“Tradition and culture remain, politicians come and go,” Partovi told reporters after receiving the honor.

Kazakh cinematographer Aziz Zhambakiyev was honored for outstanding artistic achievement for his painterly work on “Harmony Lessons”, set on the harsh steppes of Kazakhstan.

($ 1 = 0.7490 euros)

(Reporting by Mike Collett-White, editing by Paul Casciato)

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Florida hit by "tsunami" of tax identity fraud

MIAMI (Reuters) - Bruce Parton was only a few weeks from retirement after 30 years as a mail carrier in sunny Florida.

He never lived to fulfill his retirement plan of moving back to a quiet life in the Catskill mountains of New York, not far from where he grew up on Long Island.

Instead, he was gunned down on his daily mail route in December 2010 by members of an identity theft ring who stole his master key as part of a scheme to claim fraudulent tax refunds.

Using stolen names and Social Security numbers, criminals are filing phony electronic tax forms to claim refunds, exploiting a slow-moving federal bureaucracy to collect the money before victims, or the Internal Revenue Service, discover the fraud.

Parton was a victim of what officials say has ballooned into a massive, and dangerous, illegal industry that could cost the nation $21 billion over the next five years, according to the U.S. Treasury Department.

While that is a relatively small sum compared to the $1.1 trillion collected from individual tax payers in the last fiscal year, the crime has been growing by leaps and bounds in the last three years.

"We are on the top of a national trend that is causing a hemorrhage of tax dollars," said Wifredo Ferrer, United States Attorney for south Florida. "It's a tsunami of fraud."

While the IRS says it has detected cases in every state except North Dakota and West Virginia, the fraud's epicenter is Florida, and it is mostly concentrated in Miami and Tampa.

Miami has 46 times the per-capita rate of false tax refund claims than the rest of the country, and 70 times the national average in dollar terms, Ferrer told Reuters.

"For whatever reason, we always tend to lead the nation when it comes to fraud," he said, noting that his office has been battling massive Medicare fraud in recent years that has since spread to other parts of the country.

Florida's high proportion of older residents, who can be more vulnerable to fraud, may be one reason for the high levels of fraud in the state.

Nationwide, the number of cases of tax identity theft detected by authorities sky-rocketed to more than 1.2 million cases in 2012 from only 48,000 in 2008, according to the Treasury Department.

The real number of phony tax filings is likely much higher as the fraud is hard to track, according to a November General Accountability Office report.

GANG LINKS

The tax ID theft problem is particularly troubling as, unlike Medicare fraud, it is associated with violent crime and armed gangs.

Tampa police first detected it in 2010 when officers discovered wanted street criminals engaged in tax fraud. "They were holed up in hotels with laptops churning out tax claims," said congresswoman Kathy Castor, who represents the area and is pressing the IRS to get tougher on the fraud.

When agents raided a Howard Johnson in East Tampa in late 2010, they found suspects smoking marijuana and four laptop computers being used to file fraudulent tax returns on Turbo Tax, the tax preparation software, according to police records.

The suspects had lists of personal information containing more than 1,000 names and confidential personal information, multiple re-loadable debit cards, and records of numerous financial transactions. The investigation revealed that the suspects had been camped out in the hotel room for more than a week filing claims.

Tax identity fraudsters are apparently drawn by the ease of the crime, officials say.

"The scheme is very basic, it works virtually the same in almost every case," said Ferrer. "All they need is your name and the tax ID number."

Armed with that information a refund claim can be filed electronically, making up other details on the form, including addresses, employer data, income and deductions.

Criminals obtain the vital numbers using various tactics, often by bribing office workers with access to personnel files inside companies, as well as large public institutions such as hospitals and schools, according to prosecutors.

Last summer a hacker stole 3.8 million unencrypted tax records from the South Carolina Department of Revenue in what is believed to be the largest security breach of a U.S. tax agency. Authorities say they do not know the hacker's motive.

One North Miami man, Rodney Saint Fleur, was charged last year with using the LexisNexis research service account at the law firm where he worked to access names and Social Security numbers of 26,000 people as part of an identity theft scheme, according to court documents.

Victims in Florida have varied from hospital patients, to Holocaust survivors at an elderly Jewish community center, as well as active duty military serving overseas.

In December, a former U.S. Marine from North Miami was sentenced to nearly five years in prison for stealing the identities of more than 40 fellow Marines stationed at Camp Leatherneck in Afghanistan as part of a plot to claim $54,000 in fraudulent income-tax refunds.

In Parton's case the criminals were after his master key that gives postal workers access to mail drop-off boxes and apartment mailboxes. He was shot twice in the chest by a gunman as part of a plot to steal identities in people's mail for tax refund fraud.

The gunman, Pikerson Mentor, 31, was sentenced last month to life plus 42 years.

More than 600 people turned up for Parton's funeral, including postal workers and people who got to know him on his route. "He had been doing that mail route for 10 years and he always had a smile for everyone," said his daughter, Nina Parton.

The criminals stay under the radar using identities of the elderly or the very young, who are unlikely to be filing for earned income, as well as the deceased. They typically claim small refunds, around $3,000, but use multiple identities, with payments often made to pre-paid debit cards.

FIGHTING BACK

The IRS said last week it is intensifying a crackdown on identify theft, with 3,000 agents devoted to tackling the problem, double the number assigned in 2011.

The number of IRS criminal investigations into identity theft more than tripled in the year to September 2012, and it was on pace to double again this year, acting IRS Commissioner Steven Miller told reporters.

The tax collection agency prevented $20 billion in attempted tax refund fraud in fiscal year 2012, up from $14 billion a year earlier, he said.

"It's one of the biggest challenges that faces the IRS today," Miller said. "We're doing much better on all fronts but we have much more to do."

Despite the increase in investigations, the agency still had a backlog of 300,000 cases of people waiting for legitimate refunds after they were victims of fraud. It takes an average of six months to resolve a case, Miller said.

"The IRS have put a lot of resources on it, but they always seem to be behind the curve," said Keith Fogg, a tax professor at Villanova University School of Law.

Electronic filing, which now accounts for 80 percent of returns and was introduced to speed up delivery of refunds, has made the system more vulnerable to fraud.

The IRS is seeking to speed up the loading of data from W-2 payroll forms issued at the beginning of the tax season, a time lapse which gives fraudsters a window of opportunity to file using false data.

The IRS is also looking for ways to authenticate the identity of tax filers at the time of filing to pre-empt fraud, as well as working with the Social Security Administration to limit access to a registry of social security data of deceased tax payers, the so-called "Death Master File", a frequent target of fraud.

"We will not be prosecuting our way out of this. That's not going to be the answer. We're going to have to make it more and more difficult for criminals to profit from this behavior," said Miller. "If they're not successful they will move onto something else."

(Editing by Mary Milliken and Claudia Parsons)

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No. 2 Duke falls to Maryland 83-81

COLLEGE PARK, Md. (AP) — As the final horn sounded and Maryland fans rushed the court to celebrate a rare victory over its bitter rival, weary Duke had just enough energy left to escape the mayhem for the safety of its locker room.

Seth Allen broke a tie by making two free throws with 2.8 seconds left, and the Terrapins stunned the second-ranked Blue Devils 83-81 Saturday night to end a six-game skid in the series.

Coming off a five-day break, Maryland notched its most significant win of the season at the expense of a tired Duke playing its fourth game in 10 days.

The Blue Devils were worn out, and it showed.

Duke was outrebounded 40-20, never led in the second half and got only four points and three rebounds from 6-foot-10 senior center Mason Plumlee.

"This has been an exhausting schedule for our team," coach Mike Krzyzewski said. "We're playing on fumes and I think you could tell that with Mason. I thought he looked exhausted the whole game. He's been great. Obviously not good tonight."

The Terrapins (18-7, 6-6 Atlantic Coast Conference) did not trail after halftime but never could pull away.

Duke (22-3, 9-3) was down by 10 with 3:39 left but pulled even when Rasheed Sulaimon made three foul shots with 16.7 seconds to go. Quinn Cook then fouled Allen as the freshman guard drove through the lane, and Allen made both shots.

After a Duke timeout, Cook's desperation 30-footer bounced off the back rim. Chaos ensued as the fans immediately rushed the court.

"I thought it was in when I got it off," Cook said of his final attempt.

Alex Len had 19 points and nine rebounds for Maryland, and Allen scored 16. The Terrapins had lost 12 of 13 against Duke, including a 20-point embarrassment last month.

"I told our players before the game, there's a lot of pride in Maryland basketball," coach Mark Turgeon said. "There's also a lot of passion about Maryland basketball. We talked about playing with those two things for us and for our fans. Our fans were just tremendous."

From the end of the Star Spangled Banner to the final buzzer, the crowd never stopped shouting for the Terps, who rewarded their fans with a memorable victory in a rivalry that appears destined to end when Maryland leaves for the Big Ten in 2014.

"I have a great deal of respect for Maryland," Krzyzewski said. "If it was such a rivalry they'd still be in the ACC. Obviously they don't think it's that important or else they wouldn't be in the Big Ten."

Oh, but it's very important to Maryland and its coach.

"This win was for my family and the fans," Turgeon said. "I know what this win means for our fan base, and I really wanted to beat Duke."

The Blue Devils had their six-game winning streak end. Seth Curry scored 25 and Cook added 18. But Plumlee was completely outplayed by the 7-1 Len, who went 6 for 8 from the field and 7 for 8 at the foul line.

"There's so much pressure for Mason to play outstanding," Krzyzewski said. "That wears on you as the season goes on. He just didn't look fresh tonight."

Said Plumlee: "I didn't show up to play today and I let my teammates down. It's all on me."

Maryland committed a whopping 26 turnovers, eight by Allen. The Terrapins shot an impressive 60 percent from the floor and finished with a 40-20 rebounding advantage.

Maryland played without reserve guard Pe'Shon Howard, who was suspended for violating team rules. Despite being demoted from his starting role last month, Howard still leads the Terrapins in assists.

Maryland led 66-63 before Allen scored on a drive. Dez Wells then stole the ball from Cook and went in for a dunk for a seven-point lead with 5:20 left. After the Blue Devils closed to 71-63, James Padgett made a layup for Maryland and Wells made two foul shots for a 10-point cushion.

The crowd increased its volume with every subsequent basket by the Terrapins, whose previous win over Duke came in March 2010, when Greivis Vasquez celebrated Senior Night with a 20-point performance.

In this one, it was 80-72 before Curry made two straight 3-pointers to bring Duke to 80-78 with just under a minute left. After Wells was called for a charge, Curry had a 15-footer bounce in and out of the basket.

It was that kind of night for the Blue Devils.

This score was 39 all before Allen hit a 3-pointer to spark a 10-2 run that included five points from freshman Shaquille Cleare. It was 53-43 before Curry bagged a 3-pointer, Alex Murphy made a layup and Curry drove the lane following Maryland's third turnover in a 60-second span.

That cut the gap to three points, and seconds after a 3-pointer by Cook got the Blue Devils to 55-53.

After the Terrapins went up by six, they committed turnovers on three straight possessions. That enabled Duke to close to 59-57 on a dunk by Murphy, but four straight free throws by Len gave Maryland a 64-59 advantage with 7:20 remaining.

The first half featured two ties, 10 lead changes and ended with the Terrapins up 35-34. Curry (14 points) was one of only four Duke players to score before halftime.

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Meteor shows need to keep eye on sky

By Colin Stuart, special for CNN

February 15, 2013 -- Updated 1512 GMT (2312 HKT)

Meteor explodes over Russia

Meteor explodes over Russia

Meteor explodes over Russia

Meteor explodes over Russia

Meteor explodes over Russia

Meteor explodes over Russia

Meteor explodes over Russia

Meteor explodes over Russia

STORY HIGHLIGHTS

• Meteor explosion above Russia left hundreds of people injured


• Meteor came on day asteroid expected to pass 27,000 kilometers from Earth


• Earth is sprinkled with around 170 craters also caused by debris falling from space


• Stuart says unexpected meteor shows importance of monitoring space for potential threats

Editor's note: Colin Stuart is an astronomy and science writer, who also works as a Freelance Astronomer for the Royal Observatory Greenwich in London. His first book is due to be published by Carlton Books in September 2013. Follow @skyponderer on Twitter.

London (CNN) -- Reports coming from Russia suggest that hundreds of people have been injured by a meteor falling from space. The force of the fireball, which seems to have crashed into a lake near the town of Chebarkul in the Ural Mountains, roared through the sky early on Friday morning local time, blowing out windows and damaging buildings. This comes on the same day that astronomers and news reporters alike were turning their attention to a 40 meter asteroid -- known as 2012 DA14 -- which is due for a close approach with Earth on Friday evening. The asteroid will skirt around our planet, however, missing by some 27,000 kilometers (16,777 miles). Based on early reports, there is no reason to believe the two events are connected.

Read more: Russian meteor injures hundreds

Colin Stuart

And yet it just goes to show how much space debris exists up there above our heads. It is easy to think of a serene solar system, with the eight planets quietly orbiting around the Sun and only a few moons for company. The reality is that we also share our cosmic neighborhood with millions of other, much smaller bodies: asteroids. Made of rock and metal, they range in size from a few meters across, up to the largest -- Ceres -- which is 1000 kilometers wide. They are left over rubble from the chaotic birth of our solar system around 5000 million years ago and, for the most part, are found in a "belt" between the orbits of Mars and Jupiter. But some are known to move away from this region, either due to collisions with other asteroids or the gravitational pull of a planet. And that can bring them into close proximity to the Earth.

Read more: Saving Earth from asteroids

Once a piece of space-rock enters our atmosphere, it becomes known as a meteor. Traveling through the sky at a few kilometers per second, friction with the air can cause the meteor to break up into several pieces. Eyewitnesses have described seeing a burst of light and hearing loud, thunderous noises. This, too, is due to the object tearing through the gases above our heads. If any of the fragments make it to the ground, only then are they called meteorites.

Such events are rare, but not unprecedented. An object entered Earth's atmosphere in 1908 before breaking up over Siberia. The force of the explosion laid waste to a dense area of forest covering more than 2000 square kilometers. It is not hard to imagine the devastation of such an event over a more highly populated region. The Earth is sprinkled with around 170 craters also caused by debris falling from space. The largest is found near the town of Vredefort in South Africa. The impact of a much larger asteroid -- perhaps as big as 15 kilometers across -- is famously thought to have finished off the dinosaurs 65 million years ago.

Opinion: Don't count 'doomsday asteroid' out yet

It is easy to see why, then, that astronomers are keen to discover the position and trajectory of as many asteroids as possible. That way they can work out where they are heading and when, if at all, they might pose a threat to us on Earth. It is precisely this sort of work that led to the discovery of asteroid 2012 DA14 last February by a team of Spanish astronomers. However, today's meteor strike shows that it is not currently possible to pick up everything.

A non-profit foundation, led by former NASA astronaut Ed Lu, wants to send a dedicated asteroid-hunting telescope into space that can scan the solar system for any potential threats. For now, astronomers will use Friday's fly-by to bounce radar beams off 2012 DA14's surface, hoping to learn more about its motion and structure. One day this information could be used to help move an asteroid out of an Earth-impacting orbit. This latest meteor over Russia just goes to show how important such work is and how crucial it is that we keep our eye on the sky.

Read more: NASA estimates 4,700 'potentially hazardous' asteroids

The opinions expressed in this commentary are solely those of Colin Stuart.

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Nora Ephron to be honored at Writers Guild East Awards

LOS ANGELES (TheWrap.com) – Nora Ephron helped craft the modern romantic comedy, leaving an indelible mark on the genre by chronicling love-lorn, mildly neurotic urbanites in hits like “When Harry Met Sally” and “Sleepless in Seattle.”

The director and screenwriter was hailed as a latter-day Ernst Lubitsch for her sparkling dialogue when she died last June after battling cancer. Now the Writers Guild of America, East will add its own tribute.

The guild will honor Ephron, a member of its union, at its 2013 awards ceremony February 17 in New York City.

Author Meg Wolitzer, whose novel, “This Is My Life,” was adapted and directed by Ephron in 1992 will head up the tribute, which will include of Ephron’s work and interviews, the guild said.

“Nora Ephron’s life and body of work were those of a quintessential New Yorker, but not only did she embody the sophistication, wit and energy of our city, she was also a loyal union member who walked the picket line and talked the talk on behalf of all her fellow writers,” Michael Winship, president of the Writers Guild of America, East, said in a statement.

In addition to her films, Ephron was a journalist and memoirist. Her novel “Heartburn” was a thinly disguised roman a clef about the dissolution of her marriage to reporter Carl Bernstein; her play, “Lucky Guy,” stars actor Tom Hanks and debuts on Broadway in March 2013.

Ephron received the union’s Ian McClellan Hunter Award honoring her body of work as a writer in motion pictures in 2003.

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G20 defuses talk of "currency war", no accord on debt

MOSCOW (Reuters) - The Group of 20 nations declared on Saturday there would be no 'currency war' and deferred plans to set new debt-cutting targets in an indication of concern about the fragile state of the world economy.

Japan's expansive policies, which have driven down the yen, escaped criticism in a statement thrashed out in Moscow by financial policymakers from the G20, which groups developed and emerging markets and accounts for 90 percent of the world economy.

After late night talks, finance ministers and central bankers agreed on wording closer than expected to a joint statement issued last Tuesday by the Group of Seven rich nations backing market-determined exchange rates.

A draft communique seen by delegates on Friday had steered clear of the G7's call for economic policy not to be targeted at exchange rates. But the final version included a G20 commitment to refrain from competitive devaluations and stated monetary policy would be directed at price stability and growth.

"The language has been strengthened since our discussions last night," Canadian Finance Minister Jim Flaherty told reporters. "It's stronger than it was, but it was quite clear last night that everyone around the table wants to avoid any sort of currency disputes."

The communique did not single out Japan for aggressive monetary and fiscal policies that have seen the yen drop 20 percent, a trend that may now continue.

"The market will take the G20 statement as an approval for what it has been doing -- selling of the yen," said Neil Mellor, currency strategist at Bank of New York Mellon in London. "No censure of Japan means they will be off to the money printing presses."

The statement reflected a substantial, but not complete, endorsement of Tuesday's statement by the G7 nations - the United States, Japan, Britain, Canada, France, Germany and Italy.

"We all agreed on the fact that we refuse to enter any currency war," French Finance Minister Pierre Moscovici told reporters.

NO FISCAL TARGETS

The text also contained a commitment to credible medium-term fiscal strategy, but stopped short of setting specific goals.

A debt-cutting pact struck in Toronto in 2010 will expire this year if leaders fail to agree to extend it at a G20 summit of leaders in St Petersburg in September.

European Economic and Monetary Affairs Commissioner Olli Rehn said he expected concrete debt targets to be agreed at the September meeting.

"We have a common view on the need to have a credible medium-term plans for fiscal consolidation, which is also essential so we have foundation for sustainable growth," he told Reuters.

The United States says it is on track to meet its Toronto pledge but argues that the pace of future fiscal consolidation must not snuff out demand. Germany and others are pressing for another round of binding debt-cutting goals.

Backing in the communique for the use of domestic monetary policy to support economic recovery reflected the U.S. Federal Reserve's commitment to monetary stimulus through quantitative easing, or QE, to promote recovery and jobs.

QE entails large-scale bond buying -- $85 billion a month in the Fed's case -- that helps economic growth but creates money, much of which has leaked into emerging markets, threatening to destabilize them.

That was offset in the communique by a commitment to minimize "negative spillovers" of the resulting financial flows that emerging markets fear may pump up asset bubbles and ruin their export competitiveness.

"Major developed nations (should) pay attention to their monetary policy spillover," Vice Finance Minister Zhu Guangyao was quoted by state news agency Xinhua as saying in Moscow.

"Major developed countries' implementation of excessively relaxed currency policy has an influence on the world economy."

Russia, this year's chair of the G20, said the group had failed to reach agreement on medium-term budget deficit levels and also expressed concern about ultra-loose policies that it and other big emerging economies say could store up trouble for later.

Finance Minister Anton Siluanov said a rebalancing of global growth required more than an adjustment of exchange rates.

"Structural reforms in all countries, either with a positive or negative balance of payments, should play a bigger role," he said in an address to Saturday's talks.

The G20 put together a huge financial backstop to halt a market meltdown in 2009 but has failed to reach those heights since. At successive meetings, Germany has pressed the United States and others to do more to tackle their debts. Washington in turn has urged Berlin to do more to increase demand.

On currencies, the G20 text reiterated its commitment last November, "to move more rapidly toward mores market-determined exchange rate systems and exchange rate flexibility to reflect underlying fundamentals, and avoid persistent exchange rate misalignments".

It said disorderly exchange rate movements and excess volatility in financial flows could harm economic and financial stability.

(Additional reporting by Gernot Heller, Lesley Wroughton, Maya Dyakina, Tetsushi Kajimoto, Jan Strupczewski, Lidia Kelly, Katya Golubkova, Jason Bush, Anirban Nag and Michael Martina. Writing by Douglas Busvine. Editing by Timothy Heritage/Mike Peacock)

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US teen Mikaela Shiffrin wins world slalom title

SCHLADMING, Austria (AP) — American teenager Mikaela Shiffrin became the youngest women's slalom world champion in 39 years on Saturday.

At the age of 17 years, 340 days, Shiffrin beat all of her more experienced rivals to earn the U.S. Ski Team its fourth gold and fifth medal overall at the worlds, more than any other nation.

"It's such a crazy day," Shiffrin said. "It's so emotional ... I don't know yet, I can't feel yet. It's amazing."

The 17-year-old Shiffrin was third after the opening run but finished in a combined time of 1 minute, 39.85 seconds to beat Michaela Kirchgasser of Austria by 0.22 and Frida Hansdotter of Sweden by 0.26.

After the race in front of a crowd of 30,000 had ended, Shiffrin looked around in disbelief before hugging second-place Kirchgasser several times. Shiffrin's parents Jeff and Eileen embraced each other at the stands.

"I keep saying it, I keep thinking it. It doesn't make sense. It's just me," Shiffrin said when being asked how it felt to be world champion.

Shiffrin said she was inspired by teammate Ted Ligety, who won the men's super-G, super-combined and GS titles.

"Oh yeah! For sure," she said. "I think everyone was. That was amazing."

Julia Mancuso won the United States' first medal by taking bronze in the event-opening super-G.

Shiffrin is the youngest women's world champion in any discipline since fellow American Diann Roffe-Steinrotter, who was 21 days younger when she won the giant slalom title in 1985.

The only slalom world champions younger than Shiffrin were Hanni Wenzel of Liechtenstein in 1974 and Esme Mackinnon of Britain in 1931.

Shiffrin had already had a breakthrough year, winning three World Cup slaloms this season to lead the discipline standings.

By winning in Zagreb, Croatia, in early January, she became the first American woman to win two World Cup races before the age of 18. In Flachau, Austria, she added a third victory to match a record set by legend Annemarie Moser-Proell, was in 1971 at exactly the same age of 17 years, 308 days when she won her third of 62 races.

Hansdotter led the race after the opening run but could not match Shiffrin's pace in the final. The Swede had finished runner-up to Shiffrin in each of the American's World Cup wins.

"I am super happy," Hansdotter said. I had two good runs and now I have a medal. I wasn't nervous. I have to be happy because I have got a medal."

Kirchgasser, who was part of the Austrian team that won gold in the mixed team event Tuesday, earned her first individual medal at a major championship.

"It's just great. I thought, all or nothing," said Kirchgasser, who just missed the podium in fourth during the super-combined last week. "I didn't want to end up in fourth again."

Olympic slalom champion Maria Hoefl-Riesch of Germany, who won the super-combined world title last week, had 0.20 to make up in the final run but straddled a gate and failed to finish.

The fans cheered loudly for Schild on her return less than two months after picking up what initially appeared to be a season-ending knee injury in December. The World Cup champion hadn't raced since the slalom 83 days ago in Aspen, Colo., and placed ninth, 1.58 behind Shiffrin.

The men's slalom Sunday is the final event of the world championships.

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