How things can change in few months. Last week's AIM Awards Dinner was more a chance for the City to drown its sorrows than celebrate the performance of the Alternative Investment Market.

Shock of the evening had to be the winner of the best performing share – measured for its performance until the end of July. "And the winner is… Coal of Africa."

Cue a ripple of disbelieving laughter from the crowd. The Australia-based coal and metal exploration company's share price has tanked since its June high of 223p. Losing 80 per cent of its value in four months? Performance indeed – they're right back to where they started last July.

Fantasy roles

A lesser-known stock exchange has been performing extremely well. But unfortunately for some it's a fantasy one. The Grant Thornton Stock Exchange Challenge on Wednesday was a rollicking affair and by all accounts a major success.

The event, in which teams of four pitted their wits against each other in a fantasy stock exchange, helped to raise more than £8,000 for Leukemia Research.

Watson Burton took the honours, perhaps demonstrating that lawyers are better at taking risks than accountants, making a huge profit of £756,000 on investments worth £8,000. We won't reveal the team that ended up with less than they began with.

Organiser Jonathan Shipton of GT plans to repeat the event next year. Word reaches us that a similar event planned for Manchester was cancelled due to lack of support. So well done Leeds.

Harvard class

In a few weeks, US voters will finally decide who their new President will be. And a Yorkshire PR professional will be at the heart of one of America's most prestigious academic institutions to assess the impact the result will have on the US business community.

Di Burton, right, the managing director of Harrogate-based Cicada Public Relations, will be visiting Harvard Business School from November 16-23 to take part in a course for leading professional services firms. She said: "It will be a week of problem solving with company directors gaining the skills and insights needed to sustain a firm's competitive edge and drive revenue throughout the organisation." She'll also hear some pretty pithy assessments from the world's brightest business brains about the next incumbent of the White House.

Laughter lines

Gallows humour is sweeping the dealing rooms in the City. It all kicked off when Gordon Brown was interrupted mid-speech by a ringing mobile. Quick as a flash he quipped: "I don't know if another bank has fallen." Mr Brown's popularity soared following the joke and psychologists claim humour is one of the best ways of dealing with a crisis – it shows we're still in control. So we've chosen our favourite jokes doing the rounds to cheer you up:

n An investment banker's wife decides to surprise her husband at work. She finds him sitting behind his desk with his secretary on his lap. Quick as a flash he starts dictating: "...and in conclusion, gentlemen, credit crunch or no credit crunch, I cannot continue to operate this office with just one chair!"

What is the capital of Iceland? £2.50

How do you define optimism? A banker ironing five shirts on a Sunday.

What is Andy Hornby's favourite chocolate bar? A credit crunchie.

Restive season

It looks as though the credit crunch is taking its toll as the Christmas season approaches.

Diary hears that some Yorkshire companies are cutting back on the festive cheer this year and that the appetite for expensive corporate hospitality is on the wane given the economic climate.

One retail firm even told employees "Christmas is cancelled" as it called off their festive party. Bah humbug!

A legal slip

Which high-flying Leeds lawyer is nursing a sore behind after taking a tumble in Milan?

This partner tumbled and hit the pavement while away on a mission to promote Leeds to Italian businesses. But despite the glamorous location, this wasn't after an evening downing the best Italian vino – it was at 9am on the way to a meeting with Milanese business people. Showing true Yorkshire grit, he picked himself up, dusted himself off, and went on to his meeting.

If you have a story for the Business Diary, email: bernard.ginns@ypn.co.uk