How to handle maps in google maps app?
If by rename you mean give it a proper name instead of the ugly co ordinates google maps shows its not possible currently. People have said that changing the name by going to the desktop version applies to the app also but it did not work for me.
Press the 3 parallel lines button and then press "My Places"
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The arrow points towards the direction you are suppose to be travelling in. It shows only in the realtime navigation view. However sometimes it may point in the opposite direction (probably a compass error). But if you are moving it usually shows the correct direction.