What makes news?

One classic definition of what constitutes news is this:
If a dog bites a man, that is not news.
But if a man bites a dog, that is news.
This suggests news is reports of the unusual, but news is not always about unusual events; routine government decisions and company announcements might be news if they are of interest and relevant to many people. The importance given to one piece of news over another in a newspaper depends on a variety of factors, such as proximity. Another factor is relevance. A scientific breakthrough that could affect a country’s farmers, or the health of many of the population, even if reported from another country, could knock a good local story off the front page.