Twitter shares rose yesterday after Bloomberg reported that an activist investor has built a sizable stake in the social media company and is pushing for changes, including possibly replacing co-founder and chief executive Jack Dorsey.

Google is not immune to setbacks caused by the global shift to mobile computing.

Google chairman Eric Schmidt’s pay packet more than doubled to $19.3m (€14m) last year as a new compensation plan reduced the total amounts for three other top executives.

A sharp rise in internet search giant Google’s second quarter revenues and profits failed to satisfy Wall Street last night.