Company: Bank of New York Co

Fitch Ratings said Thursday that the world's 29 biggest banks together may have to raise $566 billion by the end of 2018 to meet new international requirements for holding cushions against risk.

(Reuters) - Nine creditors of Residential Capital LLC, including the insurers American International Group Inc and Allstate Corp, were selected to join the unsecured creditors committee for the mortgage lender's bankruptcy.

BULLISH ON AUTOS?: Warren Buffett's company, Berkshire Hathaway Inc., took a new 10 million-share stake in General Motors Co. in the first quarter. The investment comes as the Detroit automaker continues to rebound from bankruptcy three years ago.

Warren Buffett's company is apparently bullish on the U.S. auto industry.

Bank stocks fell Monday as worries mounted over Europe's debt crisis and JPMorgan Chase & Co. said a senior executive would step down after the bank lost $2 billion on a bad trading strategy.

A Fairfax County judge has dismissed a nearly $1 billion lawsuit the state filed against a banking company accused of defrauding Virginia's worker-retirement fund as well as that of Fairfax and Arlington counties.

Stocks accelerated their losses in the final minutes of trading to close near lows Wednesday, pressured by a handful of lackluster tech earnings and amid renewed concerns over the euro zone.

Bank of NY Mellon said on Wednesday that its first-quarter profit declined slightly as its foreign exchange revenue slid 21 percent from year-ago levels.

U.S. stock index futures were lower Wednesday as central banks seemed to drift away from the idea of injecting more monetary stimulus and European shares fell.

Stocks closed mixed Monday, with the Dow edging closer to the psychologically-important 13,000 level and the S&P 500 holding near its key 1,370 level, but gains were limited as the Nasdaq was dragged down by heavyweights such as Apple and Google.

U.S. stock index futures were higher Monday after retail sales gained more-than-expected last Month, and as investors digested Citigroup's earnings report.

Investigators have determined what happened to nearly all of the customer money that disappeared from MF Global around the time of its bankruptcy last Oct. 31, but have not publicly disclosed their progress, fearing that doing so might cripple efforts to recover the cash and pursue potential wrongdoing, the New York Times reports.

Stocks closed near highs of the session Wednesday with the S&P finishing at its highest level since July 2011, buoyed by an optimistic report on Greece, which added fuel to an earlier rally after a better-than-expected housing market report.

Financial company earnings reports released Wednesday were a mixed bag, though banks continued to show improvements in credit quality.

The government is trying to reduce the need for another Wall Street bailout by requiring banks to report how they are positioned to handle worsening economic conditions, such as increasing unemployment and falling home prices.