I'm using Fedora Core 18 (x86_64) and trying to build an ARM toolchain
with crosstool-1.18.0, .config and build.log attached.

I get to building the pass-1 core C compiler but then I get:
[ERROR]    checking dynamic linker characteristics... configure: error:
Link tests are not allowed after GCC_NO_EXECUTABLES

An internet search threw up a few references but nobody seemed to know
either what the problem was or how to solve it except for a gcc guy who
seemed to think it was a bug with the compiler (as far as I understand
his post at http://gcc.gnu.org/ml/gcc/2011-03/msg00461.html and Joseph
S. Myers seems to have an idea or two
http://gcc.gnu.org/ml/gcc/2011-03/msg00465.html although I'd be lying if
I said I really grokked what these guys were saying. He specifically
mentions libiberty which is what my build failed on and he says "But
some of those bug reports refer to target libiberty - which I still
maintain should never be built by GCC".

Also, crossgcc picked it up
http://sourceware.org/ml/crossgcc/2010-10/msg00074.html

Any ideas? Let me know if more information should be forthcoming.