Friday’s Headlines: Wall Street Intern How-To

New York Magazine is running a sweet crimp sheet for Wall Street interns, covering topics including how to manage your social life, living quarters, wardrobe and manners on the job.

Here are some highlights:

• Show up early, leave late.
• Remember: All interoffice e-mail is monitored.
• When choosing housing, location over amenities and price wins.
• Skip invites to the Hamptons.
• No black suits.
• Women should avoid all sex appeal when getting dressed in the morning.
• “If Gordon Gekko wore it, you shouldn't.”
• Watch the partying – camaraderie is critical, while getting smashed at company events and bragging about interoffice hookups are not.
• Work harder and faster than everyone else.

Other News:

The Fed wants banks to raise more capital. [Financial Times]

Companies have issued 29 percent more bonds in Asia than last year. [WSJ]

Russia’s Sberbank will buy the Turkish unit of French-Belgian lender DenizBank for $3.5 billion. [NY Times]

British retailer Marks & Spencer will open 50 HSBC bank branches at its stores over the next two years. [DealBook]

India looses its investor appeal. [WSJ]

Advisors don’t regret move to fee-based model. [Investment News]

Employers that regularly hire workers in their early 20s find them to be just as diligent and competent. [CNN Money]

Proposed: If stocks were priced in increments smaller than 1¢, high-frequency traders would be forced to compete on price, benefiting retail investors. [Businessweek]

Retired baseball players are the focus of the feds’ new insider trading probe. [Reuters]