What does "bad news" mean?

An unwelcome thing or person, trouble. For example, That fire was bad news; we were underinsured for the damage, or No one wants Mary on the board—she's bad news. This term transfers literal bad news—the report of an unhappy recent event—to an unwanted or undesirable individual or circumstance. [Slang; 1920s]

The amount charged for something, as in Waiter, bring our check—I want to see the bad news. [Slang; 1920s]