One offering news in separate bits! (7)
I believe the answer is:
compass
'one offering news in separate bits' is the definition.
Although both the answer and definition are singular nouns, I cannot see how they can define each other.
'one offering news in separate bits' is the wordplay.
'one' becomes 'a'.
'offering news' becomes 'comps' (I am not sure about this - if you are sure you should believe this answer much more).
'in' is an insertion indicator.
'bits' says to take the initial letters (I've seen 'bit of' mean this).
The initial letter of 'separate' is 's'.
'a' placed inside 'comps' is 'compas'.
'compas'+'s'='COMPASS'
Can you help me to learn more?
(Other definitions for compass that I've seen before include "Course guide" , "where all points considered?" , "Device with magnetic needle for determining direction" , "Navigational aid" , "Moss cap (anag.)" .)