Union Railways Minister Ashwini Vaishnaw on Saturday inspected the Hyperloop test track at the Indian Institute of Technology (IIT) Madras in Chennai, where he explained how the futuristic transport system would function. The project, which aims to revolutionize travel with high-speed pods, has already seen 410 meters of track laid as part of its development.

German sportswear giant Puma has announced plans to cut 500 jobs globally and shut down unprofitable stores, citing weak consumer demand in the United States. The decision follows disappointing quarterly and annual forecasts, which led to a sharp 23% decline in Puma’s stock, according to a report by Reuters.

Scopely Inc., a gaming company backed by Saudi Arabia’s sovereign wealth fund, has acquired the gaming business of Niantic Inc. for $3.5 billion. The deal includes Niantic’s flagship mobile game, Pokémon Go, along with Pikmin Bloom and Monster Hunter, as well as companion apps and services like Campfire and Wayfarer.