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Argentina's new leader, Mauricio Macri, has warned the challenges ahead are enormous. We hear about Argentina's economic plight and how the new president claims the country's development is way behind, from our South America business correspondent in Buenos Aires.

Four big tobacco companies have gone to court in the UK to challenge plans to enforce plain packets for cigarettes. We hear from Australia where the measure has already been introduced and we also get analysis from Professor Luke Clancy, a consultant respiratory physician at St James' Hospital in Dublin, as Ireland is set to introduce the same plan next year. The British pressure group FOREST, which campaigns against controls on tobacco, tells us why it believes plain packaging is a bad idea.

South Africa's rand currency has taken a battering on the financial markets as investors reflect fears about the abrupt removal of the country's finance minister, without explanation. The South African economy is in deep trouble and credit ratings agencies are growing more pessimistic about the outlook for the country. Alan Mukoki, the head of the South Africa Chamber of Commerce in Johannesburg, gives us his assessment.

(Picture: Supporters cheer Argentina's new president, Mauricio Macri. Copyright: Getty Images).