The department will be responsible for producing content for Telegraph.co.uk and The Daily and The Sunday Telegraph, allowing each member of the business team to contribute to all three publications.
The papers' City sections will 'retain their own separate identities', according to a release from the group, but reporters and writers from these sections will feature throughout the week online.
As part of the changes, Richard Blackden, formerly Digital City Editor, has been promoted to City Editor of The Daily Telegraph.
Blackden's new role includes editing responsibilities for both the daily news pages and the website, while Damian Reece remains head of business across all platforms.
Richard Fletcher has also been promoted from deputy City editor to executive editor of business in the reorganisation of the department.
"Integration has paid huge dividends already for both the Telegraph Media Group and the journalists it employs," said Damian Reece, head of business.
"It has allowed us to focus resources on the higher growth areas of our business while maintaining and adding to the success of others. Those areas of the business that have pursued an integrated strategy have seen impressive growth."
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