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Morning Wrap: need to know business stories

Top stories from around the web.

Microsoft prepares U-turn on Windows 8 (FT)

Microsoft is preparing to reverse course over key elements of its Windows 8 operating system, marking one of the most prominent admissions of failure for a new mass-market consumer product since Coca-Cola’s New Coke fiasco nearly 30 years ago.

Whitehall shuns business gurus (FT)

The attempt by Francis Maude, cabinet secretary, to inject commercial acumen into Whitehall by putting leading business figures on departmental boards is failing to live up to its billing, with some departments rarely consulting their external non-executive directors.

Crown Post Office staff go on strike (BBC)

Staff at some of the UK's largest post offices are taking industrial action in a growing dispute over closures, franchising, jobs and pay.

The day-long strike on Tuesday will cover about 370 Crown Post Offices - 70 of which are due to be franchised or partnered with a retailer.

Wal-Mart tops Fortune 500 list as Apple rises up ranks (Telegraph)

Oil companies, retailers and car manufacturers dominate the Fortune 500 list of America's biggest companies, but gains by Apple and Facebook show the rising importance of technology companies as powerhouses of the economy.

Amazon error reveals Microsoft's iPad rival (Telegraph)

The online retailer has accidentally published pictures of a new 7-inch Acer tablet, which would break new ground as the first small tablet to run on Microsoft's Windows 8 operating system.