For questions and problems with the CMS core. This board is NOT for any 3rd party modules, addons, PHP scripts or anything NOT distributed with the CMS made simple package itself.
News is a pretty basic module, and quite dated. The category names are essentially aliases so restricted in what they can contain.
If you only have a few, you could give them a simple name (alias) such as 'branding', then in your template add a more detailed title based on a check of the simple category name.
CGBlog, which is a fork of the News module, expanded on this a little bit by adding a field for a description of the category, but it's still a victim of age. Depending upon your setup and requirements, LISE might be another option as it distinguishes between the alias and title of a category.
The future does promise either an update or replacement for News, but not quite yet.