The iconic dress Princess Diana wore to a White House dinner in 1985 is hitting the auction, and it’s expected to go for as much as $450,000 | The beloved royal originally sold the blue velvet gown in a 1997 charity auction, only two months before she died in a car crash.

The iconic dress Princess Diana wore to a White House dinner in 1985 is hitting the auction, and it’s expected to go for as much as $450,000

The iconic dress Princess Diana wore to a White House dinner in 1985 is hitting the auction, and it’s expected to go for as much as $450,000

The iconic dress Princess Diana wore to a White House dinner in 1985 is hitting the auction, and it’s expected to go for as much as $450,000

The iconic dress Princess Diana wore to a White House dinner in 1985 is hitting the auction, and it’s expected to go for as much as $450,000

The iconic dress Princess Diana wore to a White House dinner in 1985 is hitting the auction, and it’s expected to go for as much as $450,000

The iconic dress Princess Diana wore to a White House dinner in 1985 is hitting the auction, and it’s expected to go for as much as $450,000
The iconic dress Princess Diana wore to a White House dinner in 1985 is hitting the auction, and it’s expected to go for as much as $450,000
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Princess Diana was known for her memorable (and at times, shocking) style moments. Now, one of the late royal’s most iconic dresses can be yours – for a few hundred thousand dollars.

WWD reported that a Victor Edelstein royal blue evening gown that once belonged to Princess Diana is being auctioned off as part of the upcoming “Passion for Fashion” auction organized by Kerry Taylor Auctions, set to take place on December 9. According to WWD, the dress is expected to sell for between 250,000 to 350,000 pounds (or about $325,000 to $450,000). The auction will also include two other dresses from Diana’s wardrobe: a blue Katherine Cusack evening gown and a Catherine Walker navy blue wool dress.

The late Princess of Wales wore the Victor Edelstein dress several times, most memorably at a White House state dinner hosted by then-President Ronald Reagan and his wife Nancy Reagan in 1985. At the dinner, Diana twirled around on the dance floor with fellow guest John Travolta as songs from “Saturday Night Fever” played.

Victor Edelstein Midnight Blue Velvet Gown worn for a State dinner at the White House when Diana danced with John Travolta in November 1985 is displayed at a photocall ahead of the the

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Victor Edelstein Midnight Blue Velvet Gown worn for a State dinner at the White House when Diana danced with John Travolta in November 1985 is displayed at a photocall ahead of the the “Fit For a Princess” auction on March 15, 2013 in London.
source
Karwai Tang/WireImage

It will be the third time this particular gown is being sold. Harper’s Bazaar reported the royal auctioned off the Victor Edelstein dress (along with several other gowns) to raise money for cancer and AIDS charities just two months before she died. In 2013, the gown was auctioned off again, this time by Kerry Taylor Auctions; it sold for 240,000 pounds (or roughly $311,000).

During a 2016 interview with Good Morning America, Travolta recalled the memorable moment when asked whether there was any part of the 1980s he’d want to bring back: “I danced with Princess Diana in 1986 and that was one of the highlights of my life.”

Compound interest is either your best friend or your enemy. Here’s how to make it work for you.

Compound interest is either your best friend or your enemy. Here’s how to make it work for you.

Unlike compound interest, simple interest uses only the principal to calculate interest.
caption
Unlike compound interest, simple interest uses only the principal to calculate interest.
source
Maskot/Getty Images

Compound interest can be one of the most beneficial or damaging things to your wallet. And it all depends on whether you’re earning it or paying it.

When you’re earning compound interest, you could end up with a far larger balance than you initially invested. But when you’re being charged compound interest, you could end up paying far more than you ever borrowed.

But what is compound interest anyway? How does it work and how does it differ from simple interest? Let’s take a look.

What is compound interest?

Compound interest is the process of adding interest to a principal amount and basing future interest on this new balance. Here’s how it works.

Imagine that you invest $100,000 in the stock market and in year one, you earn a 10% return. That would be $10,000 in growth, increasing your overall portfolio value to $110,000.

Then, in year two, you earn another 10%. But, remember, now you’re earning 10% of $110,000 instead of $100,000. So you’d actually earn $11,000 in interest in year two, bringing your account value to $121,000.

That may not seem like a big difference. But compound interest continues to gain steam over time. Each year, you’d earn slightly more interest on a slightly larger balance. In fact, at a 10% annual return, compound interest would help your account grow to over $1 million in just 25 years.

compound interest

source
Investor.gov

And that’s without making any additional contributions during the entire 25-year span.

How compound interest compares to simple interest

Now, let’s take the same example from above and imagine that you were paid with simple interest instead.

If you earned 10% simple interest, you’d earn $10,000 each year over the course of 25 years – you’d only ever earn interest on your principal investment.

So over 25 years, you’d earn $225,000 in simple interest. After adding that to your initial $100,000 balance, you’d find your final balance to be $350,000.

That’s over $650,000 less than what you’d have if your interest had compounded all along the way.

Thankfully, most investments use compound interest. On the other hand, simple interest is most commonly used on installment loans, like mortgages and car loans.

That’s generally good news. But there are situations where you could be charged compound interest on debt, which we’ll discuss later.

How often is interest compounded?

The amount that you earn (or pay) with compound interest is influenced greatly by the compounding frequency.

When you’re comparing CDs or high-yield savings accounts, for example, you could see a variety of compounding schedules, such as daily, monthly, or semi-annually

The more frequent the schedule, the more compound interest you’ll earn over time. So an investment product with a slightly lower interest rate could still be more valuable to you over time if the compounding schedule is more frequent.

To help you determine the true value of compound interest over time, you’ll need a way to calculate it. We’ll discuss how to do that next.

How to calculate compound interest

Not a fan of math? That’s OK.

You don’t have to calculate compound interest with pen and paper. There are plenty of tools available that can help you calculate compound interest in a matter of seconds.

For instance, Investor.gov has a compound interest calculator that’s simple and easy to use. Simply input your principal balance, estimated interest rate, and length of time, and the compound interest calculator can show you immediate results.

Do you plan to continue making regular contributions over time? The compound interest calculator can take that into account as well.

The compound interest formula

If you’re ambitious and would like to make the calculations yourself, here is the compound interest formula:

FV = PV x (1 +i)n

In this formula, FV means Future Value, PV means Present Value, i means interest rate, and n means number of compounding periods.

So let’s say you wanted to calculate your compound interest earnings on a $10,000 investment earning 5% interest compounded annually over five years. Here’s how that would be expressed in the above formula.

  • FV = $10,000 x (1 +0.05)5
  • FV = $10,000 x 1.055
  • FV = $10,000 x 1.2762
  • FV = $12,762.00

Another quick way to calculate your compound interest return is by using the Rule of 72. This rule shows you how quickly you can expect your investment to double over time.

It’s easy to use the Rule of 72. Just divide the number 72 by your expected interest rate. So if 6% was your expected rate of return, you could reasonably expect your investment to double every 12 years (72 divided by 6 = 12).

How to avoid paying compound interest

Earning compound interest is great. But paying compound interest is anything but. In fact, it can have disastrous effects on your finances.

As mentioned earlier, most large loans, like auto loans and mortgages, use simple interest formulas. However, there is one kind of debt that does use compound interest: credit cards.

Most credit card issuers compound interest on a daily basis. That interest will begin to accrue the day you make a purchase with your credit card.

However, the good news is that most credit card issuers will give you a grace period up until your due date. In other words, if you pay your statement balance in full by the due date, they will waive the interest charges. But interest will be assessed to any portion of the balance that is left unpaid.

So if you don’t want to pay compound interest, you’ll want to avoid carrying a credit card balance beyond your due date whenever possible.

More coverage from How to Do Everything: Money

White House press secretary Stephanie Grisham claimed without evidence that Obama staffers left notes for Trump aides saying ‘You will fail’

White House press secretary Stephanie Grisham claimed without evidence that Obama staffers left notes for Trump aides saying ‘You will fail’

Stephanie Grisham, the White House press secretary, in the Oval Office.
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Stephanie Grisham, the White House press secretary, in the Oval Office.
source
Alex Wong/Getty Images

  • The White House press secretary, Stephanie Grisham, claimed without evidence that former President Barack Obama’s White House staffers left discouraging notes for their successors in the Trump administration.
  • In a tweet on Tuesday, Abby Phillip, a CNN correspondent, quoted Grisham as saying that when Trump administration staffers moved in to the White House, “every office was filled with Obama books and we had notes left behind that said ‘you will fail’ and ‘you aren’t going to make it.'”
  • A host of former Obama aides denied Grisham’s claim, calling it “an outrageous lie” and, in some cases, saying they instead left encouraging notes for President Donald Trump’s aides.
  • Visit Business Insider’s homepage for more stories.

The White House press secretary, Stephanie Grisham, claimed without evidence that former President Barack Obama’s White House staffers left discouraging notes for their successors in the Trump administration with messages like “You will fail.”

In a tweet on Tuesday, a CNN correspondent, Abby Phillip, quoted Grisham as saying that when the Trump administration staffers moved in to the White House, “every office was filled with Obama books and we had notes left behind that said ‘you will fail’ and ‘you aren’t going to make it.'”

A host of former Obama aides denied Grisham’s claim, accused her of lying, and in some cases, argued they instead left encouraging notes for President Donald Trump’s aides.

“This is an outrageous lie,” said Jon Wolfsthal, a senior director on the National Security Council under Obama. “I know. I handed over the nuclear office at the NSC. Shameless and disgusting. @PressSec should be fired.”

Susan Rice, Obama’s national security adviser, called Grisham’s comment “another bald faced lie.”

Phillip pointed out that Rice wrote in her latest book, “Tough Love: My Story of the Things Worth Fighting For,” that she left a note offering her help to Trump’s first national security adviser.

Rice wrote of the note: “On a White House stationary card, I reiterate my best wishes for his success in a job so crucial to the nation’s security. I offer to help him, if ever I could.”

Ned Price, a former CIA intelligence officer, tweeted that Grisham was “right about one point.”

“I left a note – tucked away in my desk – for my successor. I wished him success and encouraged him not to grow jaded despite the pace and obstacles. I also left my personal email in case he wished to seek candid advice,” Price said. “I never heard from him.”

Several White House reporters, including Phillip, also voiced skepticism about Grisham’s comment, noting that Grisham offered no evidence to support her claim.

“Over the past 2.5 years I’ve heard no end of complaints from Trump officials about their Obama predecessors but never has this remarkable detail been mentioned,” the Axios reporter Jonathan Swan tweeted. “Would love to see a copy of these ‘you will fail’ notes.”

Grisham later told NBC News that nasty notes were left only in the White House Press Office.

“I certainly wasn’t implying every office had that issue,” Grisham said. “In fact, I had a lovely note left for me in the East Wing, and I tracked the woman down and thanked her. I was talking specifically about our experience in the lower press office – nowhere else. I don’t know why everyone is so sensitive!”

Alibaba will reportedly end its $13 billion share sale early after attracting more investor demand than it could meet

Alibaba will reportedly end its $13 billion share sale early after attracting more investor demand than it could meet

source
Reuters

  • Alibaba’s $13 billion Hong Kong share sale will reportedly be closed early amid strong demand from investors.
  • The company plans to stop taking orders from institutional investors at 12:00 p.m. Eastern Standard Time on Tuesday rather than 4:00 p.m., according to The Wall Street Journal.
  • The sale is already several times subscribed, the WSJ reported. That means investors are placing multiple times more share orders than Alibaba is currently offering.
  • Watch Alibaba trade live on Markets Insider.

Alibaba’s $13 billion Hong Kong stock offering will reportedly end early as investor demand outstrips available shares.

The company plans to close the sale to institutional investors at 12:00 p.m. Eastern Standard Time on Tuesday rather than the initially planned time of 4:00 p.m., according to The Wall Street Journal.

The offering is already several times subscribed, the WSJ reported, meaning investors are placing multiple times more share orders than Alibaba is currently offering.

Alibaba said in a press release on November 15 that it planned to set the price for its Hong Kong offering by November 20 partly based on the closing price of its American depositary shares listed on the New York Stock Exchange.

Shares of Alibaba traded around $184.44 a piece on Tuesday, bringing the company’s market capitalization to about $482.4 billion.

The company’s secondary listing in Hong Kong is expected to be one of the largest shares sales in the world this year, surpassing Uber’s $8.1 billion initial public offering in May. It is scheduled for November 26, The Wall Street Journal reported.

Ongoing violent protests throughout Hong Kong have continued to cast doubt over the city’s economy and role as a financial hub. Alibaba reportedly postponed its Hong Kong offering in late August due to the uncertainty around the protests.

Alibaba did not immediately respond to a request for comment on this story.

BABA shares

source
Markets Insider

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