With our investment news briefs, Money Morning provides investors with a quick overview of the most important investing news stories from all around the world.

Currency Battle Continues; Dow Hits 13-Month High; Fannie Could Need More TARP Money; Google Buying Mobile Ad Firm; Dish Network Surprises; GMAC Fails to Meet Fed's Capital Deadline; Sprint Cuts Up to 2,500 Jobs; Las Vegas Sands Macau Business to Go Public; EA Off Its Game

• China rejected calls from Europe and Japan to allow its currency, the yuan, to appreciate against the U.S. dollar until exports revive, Bloomberg News reported, citing state research. China will stick with its "tough stance" on the currency, Zhang Ming, a researcher at the Chinese Academy of Social Sciences told Bloomberg.  "There is no domestic pressure for the yuan to appreciate because exports are still having a year-on-year decline," Zhu Baoliang said. China has kept the yuan at 6.83 to $1 since July 2008.

• The Dow Jones Industrial Average closed at its highest level in more than a year, rising 203.52 points to close at 10,226.94. The gain followed news that the G-20 finance ministers and central banks agreed to keep current stimulus policies in place. "Central banks around the world are continuing to prop up the economy and support risk taking," Jack Ablin, chief investment officer of Harris Private Bank told Reuters. "There's very little regard for valuation."

• Fannie Mae (NYSE: FNM) said it may have to ask for more funds under the U.S. Treasury's Troubled Asset Relief Program (TARP) because it can't sell $5.2 billion in tax credits, The Associated Press reported. The Treasury Department last week blocked the mortgage giant from selling roughly $2.6 billion in low-income housing tax credits to investors that included Goldman Sachs Group Inc. (NYSE: GS). Fannie Mae last week asked the government for $15 billion in aid following its $19.8 billion quarterly loss, bringing the total TARP bill for taxpayers to $60 billion.

• Google Inc. (Nasdaq: GOOG) has signed an agreement to acquire mobile display ad technology provider AdMob Inc. for $750 million in stock. The move marks Google's latest move to capture a budding market for advertising on mobile phones. "Mobile advertising has enormous potential as a marketing medium and while this industry is still in the early stages of development, AdMob has already made exceptional progress in a very short time," said Susan Wojcicki, Vice President of Product Management at Google, which says its mobile searches grew 30% sequentially in the third quarter.

• Dish Network Corp. (Nasdaq: DISH) beat Wall Street estimates by posting a gain of 241,000 subscribers in the third quarter. Analysts' estimates ranged from a loss of 9,000 to 30,000 subscribers, Reuters reported. The No. 2 satellite television provider reported a net income of $80.5 million, or 18 cents per share, down from a profit of $92 million, or 20 cents per share a year earlier. The company also unveiled an unexpected special dividend of $2 a share.

• The U.S. Federal Reserve said nine of 10 bank holding companies deemed short of capital earlier this year have adequately raised enough reserves to withstand the expected higher unemployment rate and slow economic growth. The one exception, GMAC LLC (NYSE: GMA) is expected to meet its remaining buffer by accessing the government's financing program for the auto industry. The results of the Fed's stress tests determined that 10 banks needed to raise $74.6 billion to endure further credit losses.

• Sprint Nextel Corp. (NYSE: S) said yesterday (Monday) it would eliminate up to 2,500 positions within the company to reduce labor costs by at least $350 million on an annualized basis. The United States' No. 3 wireless phone service expects a charge between $60 million and $80 million during the current quarter for severance and related costs.

• Las Vegas Sands Corp. (NYSE: LVS) is looking to raise up to $3.35 billion on an initial public offering (IPO) of shares in its Macau business, it said in a filing with the Securities and Exchange Commission yesterday (Monday). The offering price for 1.87 billion shares of Sands China Ltd. is expected to be between $1.34 and $1.79 per share. The IPO of the company should help it complete two suspended projects in the Chinese territory.

• Electronic Arts Inc. (Nasdaq: ERTS) posted its 11th straight loss in a row and said it would eliminate 1,500 jobs as the video game industry continues to be hurt by a scaling back in consumers' discretionary spending. EA's loss widened to $391 million, or $1.21 per share in the third quarter, compared to a loss of $310 million, or 97 cents per share, in the same quarter last year. Sales slipped to $788 million, down from $894 million. The company said the layoffs will save it at least $100 million and it will incur one-time restructuring charges of $130 to $150 million. In a separate announcement, the company said it has acquired Playfish Ltd. for $275 million in cash, a developer of games for social media Web sites.