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Economic Times
3 days ago
- Business
- Economic Times
Elon Musk's SpaceX Texas town tells residents they could lose rights to their property in shocking notice
SpaceX's town, Starbase, has warned some residents they might lose the right to use their property the same way due to a new zoning plan. The plan will be discussed in a public hearing on June 23, and may change how land in the area can be used. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads FAQs Elon Musk's company SpaceX has built a town in Texas called Starbase. This town used to be called Boca Chica Village . Starbase has now sent a notice to some residents, saying they might not be allowed to use their property the same way as before. The reason is a new zoning plan Starbase is working plan will change how land in the town can be used. It includes creating a 'Mixed Use District'. The 'Mixed Use District' would allow homes, offices, shops, and small businesses to exist in the same area. Starbase will have a public hearing about this plan on June 23, 2025, where people can come and share their views, according to the report by hearing will happen at 39046 LBJ Boulevard, Brownsville, TX, starting at 9:00 a.m. The notice says clearly that residents could lose the right to continue using their property for its current purpose. According to the notice was signed by Kent Myers, the new City Administrator of Myers started the job recently and can be contacted for questions. His email was included in the notice. The zoning ordinance draft will be available 72 hours before the hearing on the city's website. Texas law requires the city to give this type of warning to property owners. By early 2025, around 500 people were living in Starbase, and about 260 of them worked directly for other residents are relatives of SpaceX employees. SpaceX uses the town for its Starship rocket testing facility and controls around 1.6 square miles of land there. On May 28, 2025, SpaceX did its 9th Starship test flight, but the rocket exploded again. This was the third failed test in a row. This information is from the report by Musk, who also runs Tesla, said the failures help the company learn from the data. The Federal Aviation Administration said no people were hurt and no public property was damaged in the explosion. Musk's big dream is for Starship to carry people to the Moon and Mars one day, as mentioned in the report by officially became a 'type-C municipal corporation' after SpaceX won a local election earlier this month. Now, the town is mostly run by SpaceX employees or ex-employees. SpaceX has received over $20 billion in U.S. government contracts since Starbase a company town helps SpaceX do construction, testing, and rocket launches more easily without waiting for outside approvals. The town is also trying to get permission to close nearby roads and beaches during launches, without needing to ask other local authorities, as per a plan to allow homes, offices, shops, and services in the same but they may lose the right to use it the way they do now.
Time of India
3 days ago
- Business
- Time of India
Elon Musk's SpaceX Texas town tells residents they could lose rights to their property in shocking notice
Live Events FAQs (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Elon Musk's company SpaceX has built a town in Texas called Starbase. This town used to be called Boca Chica Village . Starbase has now sent a notice to some residents, saying they might not be allowed to use their property the same way as before. The reason is a new zoning plan Starbase is working plan will change how land in the town can be used. It includes creating a 'Mixed Use District'. The 'Mixed Use District' would allow homes, offices, shops, and small businesses to exist in the same area. Starbase will have a public hearing about this plan on June 23, 2025, where people can come and share their views, according to the report by hearing will happen at 39046 LBJ Boulevard, Brownsville, TX, starting at 9:00 a.m. The notice says clearly that residents could lose the right to continue using their property for its current purpose. According to the notice was signed by Kent Myers, the new City Administrator of Myers started the job recently and can be contacted for questions. His email was included in the notice. The zoning ordinance draft will be available 72 hours before the hearing on the city's website. Texas law requires the city to give this type of warning to property owners. By early 2025, around 500 people were living in Starbase, and about 260 of them worked directly for other residents are relatives of SpaceX employees. SpaceX uses the town for its Starship rocket testing facility and controls around 1.6 square miles of land there. On May 28, 2025, SpaceX did its 9th Starship test flight, but the rocket exploded again. This was the third failed test in a row. This information is from the report by Musk, who also runs Tesla, said the failures help the company learn from the data. The Federal Aviation Administration said no people were hurt and no public property was damaged in the explosion. Musk's big dream is for Starship to carry people to the Moon and Mars one day, as mentioned in the report by officially became a 'type-C municipal corporation' after SpaceX won a local election earlier this month. Now, the town is mostly run by SpaceX employees or ex-employees. SpaceX has received over $20 billion in U.S. government contracts since Starbase a company town helps SpaceX do construction, testing, and rocket launches more easily without waiting for outside approvals. The town is also trying to get permission to close nearby roads and beaches during launches, without needing to ask other local authorities, as per a plan to allow homes, offices, shops, and services in the same but they may lose the right to use it the way they do now.
Time of India
4 days ago
- Business
- Time of India
As U.S. court blocks tariffs, here are ways Donald Trump could find a workaround after suffering a major blow
Court Says Donald Trump Overstepped His Powers Other Legal Tools Still Available to Trump Live Events FAQs (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Even after the US Court of International Trade ordered the permanent stop of most of US president Donald Trump's tariffs, he has other legal ways to work around to bring tariffs back in some form, as per a panel of three judges gave the verdict that Trump had "overstepped his authority by invoking the International Emergency Economic Powers Act (IEEPA) to impose sweeping tariffs on numerous countries," reported CNBC. As per the court's order, the White House had 10 days to complete the formal process of stopping the tariffs, according to the Goldman Sachs economists pointed out that the White House has a few tools that it can use to ensure the court ruling is only a temporary problem, reported CNBC. The economists wrote in a research note that, 'This ruling represents a setback for the administration's tariff plans and increases uncertainty but might not change the final outcome for most major US trading partners,' adding, 'For now, we expect the Trump administration will find other ways to impose tariffs,' as quoted in the READ: What is TACO Trade? The term that angers Donald Trump every time it's mentioned While, the Manhattan-based court's ruling blocks Trump's 10% baseline tariff, which was imposed on most of US trading partners, and even the additional duties on China, Canada and Mexico, but the ruling did not stop the sectoral levies, like those imposed on steel, aluminium and autos, according to Sachs highlighted the other techniques which the Trump administration can use, like Section 122 of US trade law Section 301 investigations and Section 338 of the Trade Act of 1930, reported bank said, 'The administration could quickly replace the 10% across-the-board tariff with a similar tariff of up to 15% under Sec. 122,' but also mentioned that such a move would just last for up to 150 days, after which law requires Congressional action, as per the may also initiate probes into US trading partners by launching Section 301 investigations, which could lay the bureaucratic groundwork for tariffs, but this process would take several weeks, according to Trump administration is already using Section 232 tariffs for steel, aluminium, and cars, as this law allows the president to act if imports are deemed as threats to national security, as per the report. Trump might attempt to broaden its application to include other industries, according to Section 338 has never been used before, it would let Trump impose levies of up to 50% on imports from countries that discriminate against the United States, as per the not. The court ruling slows things down, but it looks like Trump still has several options to keep pushing judges said Trump went too far by using emergency powers meant for national security to impose wide tariffs.
Time of India
5 days ago
- Business
- Time of India
GameStop surges as meme stock darling dives into crypto with $500 million Bitcoin purchase spree
GameStop Bets Big on Bitcoin Bitcoin's Record Run Sets the Stage Live Events Strong Cash Position Powers the Move A Strategy Shift Under CEO Ryan Cohen FAQs (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel GameStop's shares jumped by almost 3% in premarket trading after the video game retailer revealed that it has made its first investment in Bitcoin on Wednesday, as per a report. The meme stock has risen by about 12% in 2025, according to CNBC company revealed that it purchased 4,710 bitcoins, which was worth $512.6 million with bitcoin's price of $108,837 on Wednesday, as per the aggressive crypto bet came after Bitcoin reached an all-time high, approaching $112,000 last week due to easing trade tensions and the Moody's lowering of US sovereign debt, which has led to a boom in alternative stores of value like Bitcoin, according to per CNBC, the American video game retailer had an intention to add cryptocurrencies to its balance sheet in February, but the company confirmed its plan at the end of March but had said that it had not set a ceiling on the amount of bitcoin it may READ: Big Nvidia earnings drop today — will the stock soar or sink? Traders weigh in GameStop had accumulated a $4.76 billion cash pile as of February 1, as per the company's annual report released in April, reported company's entry into the crypto market is the latest move by the company's CEO, Ryan Cohen, to bring back the struggling brick-and-mortar business, as per the CNBC report. Under Cohen's leadership, the firm has focused on reducing costs and has streamlined operations, with the aim of making the business profitable, according to company bought 4,710 bitcoins, worth about $512.6 million, as per a CNBC this is their first official investment in Bitcoin, as per the CNBC report.
Economic Times
5 days ago
- Business
- Economic Times
GameStop surges as meme stock darling dives into crypto with $500 million Bitcoin purchase spree
GameStop Bets Big on Bitcoin Bitcoin's Record Run Sets the Stage Live Events Strong Cash Position Powers the Move A Strategy Shift Under CEO Ryan Cohen FAQs (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel GameStop's shares jumped by almost 3% in premarket trading after the video game retailer revealed that it has made its first investment in Bitcoin on Wednesday, as per a report. The meme stock has risen by about 12% in 2025, according to CNBC company revealed that it purchased 4,710 bitcoins, which was worth $512.6 million with bitcoin's price of $108,837 on Wednesday, as per the aggressive crypto bet came after Bitcoin reached an all-time high, approaching $112,000 last week due to easing trade tensions and the Moody's lowering of US sovereign debt, which has led to a boom in alternative stores of value like Bitcoin, according to per CNBC, the American video game retailer had an intention to add cryptocurrencies to its balance sheet in February, but the company confirmed its plan at the end of March but had said that it had not set a ceiling on the amount of bitcoin it may READ: Big Nvidia earnings drop today — will the stock soar or sink? Traders weigh in GameStop had accumulated a $4.76 billion cash pile as of February 1, as per the company's annual report released in April, reported company's entry into the crypto market is the latest move by the company's CEO, Ryan Cohen, to bring back the struggling brick-and-mortar business, as per the CNBC report. Under Cohen's leadership, the firm has focused on reducing costs and has streamlined operations, with the aim of making the business profitable, according to company bought 4,710 bitcoins, worth about $512.6 million, as per a CNBC this is their first official investment in Bitcoin, as per the CNBC report.
