The news page serves as the container for blog posts and the news page is the news post itself.
There can only be one news page on the website, and news posts must be created as a child of this page for the news section to work as expected as a lot of functionality is directly based to the parent-child relationship.
Within the page you can adjust settings such as post author and publish date (for instance scheduling an article to post in the future) and tagging it so it can be filtered for or found more easily.
You can add all the standard content blocks to the news page.