The phrase "big news" refers to important or significant events, developments, or announcements that have a major impact on people's lives. It can be something positive such as a new job opportunity, winning a competition, getting married, having a baby, receiving an award, etc., or it could be negative like losing a loved one, experiencing financial difficulties, natural disasters, political upheavals, etc. In any case, "big news" is typically something that makes people sit up and take notice because of its potential to change the course of their lives or the world around them.