MySQL – Update values based on subquery

all you should do is just join the tables like this.

UPDATE table2 t2
JOIN table1 t1 ON t1.id = t2.id
SET t2.name = t1.name;

RESULTS WITH JOIN

if you are set on doing it with a select you could do it like this.

UPDATE table2 t2,
(   SELECT Name, id 
    FROM table1 
) t1
SET t2.name = t1.name
WHERE t1.id = t2.id

RESULTS FROM SELECT