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French protesters destroy 143 year old Limoges Town Hall, Microsoft cancels huge data center project, inflation hits Washington harder than other states, Idaho gets $329k for small business exports, Western Washington University signs $12.5M deal with PeaceHealth for new college.

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PNW Market Look

As of market close 10.16.26

Headline Roundup

Seattle investor acquires Pinehurst apartment property for $29 million (PBJ)
PGE, citing affordability and other constraints, plots path that falls short of 2030 climate mandate (PBJ)
Anthropic expands footprint in South Lake Union (PBJ)
Oregon unemployment ticked down slightly in September on strong growth in construction (OPB)
KCRHA's financial hole grows to $16.7 million, renewing calls to dissolve agency (KUOW)
While other groceries close, Seattle's Uwajimaya expands to Issaquah, Tacoma (KUOW)
Seattle's social housing agency unveils plans for 20-unit project in Central District (KUOW)
WA schools chief urges Gov. Ferguson to reject federal tax credit (KUOW)
Trump waives most Russia sanctions and tariffs days before they were to take effect (KOMO)
Starbucks confirms closure of five Washington stores in layoffs notice (KOMO)
A $90 Part B payment is coming for 20M people, but many won't qualify—here's why (KOMO)
Washington residents report $1.9M lost to online purchasing scams : BBB (KOMO)
Idaho receives $329,000 federal grant to boost small business exports (IBR)
Idaho Attorney General Raúl Labrador sues OpenAI for alleged harms of ChatGPT (IDC)
Powered by spikes in energy prices, inflation surges to 3.7% (IDC)
Bipartisan permitting bill in Congress could speed energy projects, but draws green critics (IDC)
Data centers are now the largest financial bet in US history (OCC)
WWU closes $12.5 million deal with PeaceHealth for new health sciences college (CDN)
17 groups sue Montana Public Service Commission to require considering climate change (BDC)
Arthur Blank opens Paradise Valley's latest year-round resort (BDC)

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Community Highlight

Seattle inflation outpaces most West Coast peers, national average. What's driving it? (KUOW)

“Inflation in the Seattle metro region rose faster than almost any other West Coast city over the past year, and was a full percentage point higher than the U.S. city average, according to the latest Bureau of Labor Statistics numbers.

Seattle-area prices rose 4.4% between August of 2025 and 2026, while the U.S. city average increased 3.4%. The national city average matched the rate of inflation in the San Francisco metro, Seattle’s closest peer region.

Rising energy prices were the primary driver of Seattle’s higher rate, but James McCafferty, Director of Western Washington University’s Center for Economic and Business Research, said there are more subtle factors at play too.

“ What's interesting is that while energy is the headline of the show, and it's definitely up — it's 15.9% in the Seattle market for energy [and] San Francisco's only at 12.3% — it's groceries, it's food, it's restaurants that are pushing the Seattle market much higher from an inflationary standpoint than our friends to the south.”

McCafferty said supply chain disruptions and rising transportation costs are inflating the price of food in the Seattle area. He also said labor and insurances costs are squeezing Seattle restaurants and grocers.”

Rip’s Spotlight

Microsoft pulls out of UK data center deal with Nscale, Telegraph reports (Reuters)

Microsoft (MSFT.O), opens new tab has pulled out of a data center deal with British cloud provider Nscale, Britain's Telegraph newspaper reported on Sunday.

The ‌US tech giant, one of Nscale's two largest customers, recently terminated its agreement for the data center in Loughton, Essex, according to the report.

Key Details of the Cancellation

The Deal: Microsoft had agreed to rent 23,000 high-end Nvidia AI chips at the facility, which was part of a larger £22 billion UK investment pledge announced last year.
The Reason: National power grid officials informed Nscale that a grid connection and power supply for the Loughton site would likely not be available until the 2030s, causing severe project delays.
Impact on Nscale:
- The site was originally expected to come online next year.
- Microsoft was the facility's only announced anchor customer.
- The cancellation comes as Nscale prepares for a U.S. initial public offering (IPO) targeting a $35 billion valuation.
- Nscale states that the Loughton-specific grid issue does not impact its other global or UK contracts with Microsoft