late 14c., "new things," plural of new (n.) "new thing" (see new (adj.)); after French nouvelles, which was used in Bible translations to render Medieval Latin nova (neuter plural) "news," literally "new things."
The odd and doubtful construction probably accounts for the absurd folk-etymology (attested by 1640 but originally, and in 18c. usually, in jest-books) that claims it to be an abbreviation of north east south west, as though "information from all quarters of the compass."