Marathon Petroleum Corp.

U.S. Unemployment, Europe's Bailout Let the Market Breathe

The stock market came to life this week, as investors bet that the economy wouldn't be as bad as had been priced in. The ISM Index, a gauge of manufacturing activity, rose more than expected, construction spending grew, and Europe started to get its act together on a massive bailout fund. But as usual, it all starts with unemployment.

Marathon Oil to Spin Off Its Refining Business

Marathon Oil, the fifth-largest oil refiner in the U.S., is spinning off its refining business into a new company called Marathon Petroleum. Marathon Oil, meanwhile, will reduce its debt as a result of the move and will focus on oil exploration and production.