A descendant of the czarist Romanov dynasty was married in the first royal wedding in over 100 years — kicking off a weekend of lavish events that sparked public curiosity, awe and derision.

A large slice of icing from one of the nearly two dozen official 1981 wedding cakes will go up for auction next week. The auction house says it's in good condition, "but we advise against eating it."

Just as we do at the end of every week, this Friday we brought together a group of four smart people to help us break down the week's news. On Second...