in "Interface labels & messages" search for this key "PageGroupNodeTitle". You will get several of them, but edit the one which says used in: "News resources"
Hope this helps.
1) localize the label as Ivan said
2) delete the News page from the Backend pages (all children+Group page)
3) open the SystemConfig and remove the "version" from the news module (this will force the module to reinstall)
4) restart the application and it's there - up and running with the new label
Once again thank you for the patience and kind cooperation in resolving this issue.