It's because you've created Latest News as a normal CMS Page, which does not automatically show links to any pages created "below" it in the page hierarchy.
This is the expected behaviour. If you create a Folder then it will show links to items below it in the hierarchy, but a Page does not.
No big deal though, there are several ways you can make the page show links to the news articles. The simplest is to place the Child List includelet on the page - though you can get a similar effect by using the Filtered Item List or Latest News includelets.
(FYI - in the CMS a Folder is really just a Page with a Child List includelet on it)
The Child List will show all items beneath the current page in the hierarchy. The Latest News includelet will show all news articles in your site, and teh Filtered Item List has thousands of configuration options which you can use to get slightly different listings!
So really the choice is yours. I'd start with the Child List and see if that does what you want :-)
Thanks
Joe - Voice Admin