News lives in PR, in the Community part of the sidebar (on a phone, open it from the Community overview). Its first tab, NEWS, is your club's press room: the press releases you publish and the comments other managers leave under them. The Club news tile on your Home page, where you land every time you open the game, takes you straight there.
The HEADLINES tab is the game's own news about teams: players bought, sold or put on the Transfer List, arena expansions, trophies, national team call-ups, injuries healed, achievements, a manager taking over a new club, league upsets, and the weekly training and economy updates of your own club. You see your club's headlines and those of the other clubs in your league (supporters also get those of their buddies' clubs), filtered by ALL, CLUB or LEAGUE, with the most important story on top and the rest newest first.
The third tab, FAN SURVEY, is where your fans tell you what they think of your work. See Fan Survey.