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Mishna Berura Summaries

When you have simcha upon hearing good tidings that benefit you alone, say Shehecheyonu. If the benefit is for you and others, say Hatov V’hamaytiv. When you are saddened by bad tidings regardless of who is affected, say Dayan Haemmes. (ShA1,2 – MB3, BeH “al”)
The news must come from a trustworthy person who knows it firsthand. (MB1)
It seems that these days we minimize these blessings. (MB1)
Dayan Haemmes must be said with a willing soul, knowing that the bad in ones life is a kappara that removes the need for much harsher punishments in the future. (ShA3 – MB4)