Mid-day Update

The number of new homes starts last month fell, but a rise in future home-construction plans gave economists hope that the housing market has stabilized. Meanwhile, the number of new students taking the law-school entrance exam dropped to the lowest level in 12 years. Also on the show, China announced a major increase in gas prices, a reported delay in cleaner fuels could harm the new engines designed to burn it, and an oil spill off the coast of Brazil last November is the subject of a lawsuit this week. Plus, our interview with the author of a story that makes comparisons between Mitt Romney's GOP campaign and that of French President Nicolas Sarkozy.

Apple CEO Tim Cook said in a conference call today that the company would start spending down its nearly $100-billion pile of cash with a $10 billion share buyback and a quarterly stock dividend of $2.65 a share. We talk to Henry Blodget, CEO of Business Insider, for more on this story. Shipping giant United Parcels Service said it would pay $6.8 billion for Dutch shipping rival TNT Express in effort to expand its global reach. Plus, Ireland struggles with 14 percent unemployment, Greece's prime minister said the company is on its way to a recovery, and Yahoo! fends off an aggressive investor.

Apple's latest iPad is released in stores today, but the lines aren't stretching quite so far down the block as they used to. And the company might soon be trying to buy your old iPad back from you, to refurbish and re-sell in other parts of the world. In Arizona, a new line on the state's tax return asks people how much shopping they've done out-of-state. And what is the importance of the female vote in this election cycle?

As March Madness begins, we talk to L.A. Times consumer columnist David Lazarus about why many who never gamble decide to play the game this time of year. Does premium gas really help you get better mileage in the long run? And lately, some experts have been wondering whether Pinterest users have the right to show off photos that in many cases they did not create.

In an age of skyrocketing gas prices, what can we do to make our cars more fuel efficient? The Panama Canal is getting a makeover. In two years, it'll be able to handle ships that carry twice the cargo they handle now, and that could mean big things for ports on the East Coast of the United States. And Paypal is expected to announce tomorrow that it will launch a service where anyone can send or receive credit card and debit card payments over a smartphone.

Illinois governor Pat Quinn will appeal FEMA's decision to deny his state disaster aid in the wake of those deadly tornadoes a few weeks back. Voters in Mississippi and Alabama head to the polls today, and we take a closer look at the economic policies of Rick Santorum. Southern California ports currently receive most of the imports shipped from Asia. But that could change with a major expansion of the Panama Canal. And tonight, the new NBC TV show "Fashion Star" debuts, and the focus is more on retail than high fashion.