I try to avoid it. It's too much of a time sink and there's almost zero pieces of actionable information. I know it's offensive to claim it's merely entertainment but in concrete terms there's no material difference resulting from tuning into daily banter that's any different than watching some serial drama on television.
I don't agree with this. The news is filled with actionable information. If nothing more than constant reporting of problems, many of which could be solved with new businesses - there is value in knowing about that if only to be better positioned to start businesses.
The world is full of people in pain, and often the news reports on that. That is actionable information. Other people's pain is not your entertainment. It is actionable information about how to help improve the world and reduce suffering.
Also, the news and happenings of the world do affect you every day even if you don't know it or notice it.
"You may not care about politics, but politics cares about you"