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BP’S future participation in America’s shale gas revolution has been thrown into question after the UK oil giant said it was separating its US onshore operations into a separate business unit.

The company said it was setting up a distinct business in Houston, separate from its existing US headquarters, that could react faster to the “rapidly changing and hyper-competitive energy landscape” brought about by America’s exploitation of shale gas. (The Telegraph)

The Swiss bank's large debt trading business is to be split off into a separate unit that will be wound down over time, according to the FT report. (BBC News)