BRIEFCASE.

Byline: -- Staff and Wire Services

Burbank mall adding retailers

BURBANK -- Burbank Town Center announced a slew of new stores Thursday, including Old Navy, American Eagle, and Zales Jewelers as part of the mall's $130 million renovation.

The new shops will fill more than 36,000 square feet and are expected to open before Thanksgiving.

When Crown Realty purchased the mall in 2003, occupancy was in the low 70 percent. Now it's approaching 97 percent.

In the past three years, Crown has expanded the food court to include an outdoor balcony, created a children's play area, and spruced up pedestrian walkways.

Terror plot tests airlines' recovery

ATLANTA -- The ink barely dry on second-quarter results showing fuller planes and profits some hadn't seen in years, airlines are again being tested -- this time by a foiled terror plot that is sure to make passengers uneasy about flying.

The financial toll on the carriers and whether they will have to scrap their higher ticket price strategy depends on how long the threat lasts, analysts and industry consultants said on Thursday.

But, they pointed out, the airlines have been able to weather such upheaval before.

Advanced bookings have been strong and some airlines began offering fare sales this week to help keep seats filled during the traditionally slow early fall season. That should help the airlines withstand a big financial impact from the terror threat, experts said.

U.S. trade deficit improves slightly

WASHINGTON -- America's trade deficit showed a slight improvement as strong global growth pushed U.S. exports to a record level. That helped offset a surge in Chinese imports and record crude oil prices.

The deficit declined 0.3 percent in June, compared with May, dropping to $64.8 billion, still the fifth largest imbalance on record, the Commerce Department reported Thursday.

The deficit is running at an annual rate of $768 billion through the first six months of this year, putting the country on track to see a fifth straight record imbalance.

Last year's deficit was $716.7 billion.

Democrats have attacked the soaring trade deficits as evidence that the Bush administration's trade policy has been a failure that has opened up U.S. workers to unfair competition from countries such as China and contributed to the loss of nearly 3 million manufacturing jobs since 2001.

BP signs 2 deals for Alaskan pipe

ANCHORAGE, Alaska -- BP said Thursday it had signed two major deals to supply new pipe for approximately 10 of the 16 miles of an Alaskan oil pipeline it was forced to begin shutting down early this week.

The discovery of leaks and severe corrosion in the pipeline has prompted a shutdown of the entire Prudhoe Bay oil field, the nation's largest.

BP said it was producing approximately 120,000 barrels of oil per day from the site, down from about 400,000, as it works on the gradual shutdown. BP is simultaneously evaluating whether it can continue to supply the oil at a lower capacity during the repairs, and hopes to make a decision in the next few days.

BP PLC spokesman Scott Dean said that the company had signed contracts with United States Steel Corp. and Nippon Steel Corp. to supply the 10 miles of pipeline, and is working to win contracts for the remaining materials.

Dean said it was too early to say exactly how much the total project will cost, but insisted BP is not looking to pinch pennies.

Target, Pennys have solid profits

NEW YORK -- Two leading retail stalwarts -- J.C. Penney Co. and discounter Target Corp. -- reported on Thursday better-than-expected profits in the second quarter. Still, the outlook for consumer spending in the coming months remains muddled amid higher energy costs, rising interest rates, war in the Middle East, and the latest terrorist threat.

Target, the nation's second-largest discounter behind Wal-Mart Stores Inc., overcame its sales slowdown in July and reported a 13 percent increase in second-quarter profits. The results were fueled in part by the strength of its credit card operations. The company maintained its profit outlook for the year.

Penney's second-quarter profit surged by more than one-third, helped by improving sales of jewelry, accessories and women's apparel. It offered a profit outlook that exceeded Wall Street expectations.

Indian states ban Coke, Pepsi sales

NEW DELHI -- Two more Indian states banned the sale of Coca-Cola and PepsiCo soft drinks at government-run schools and colleges over allegations they contain high levels of pesticides.

Meanwhile, India's top business groups warned Thursday that the business climate could be hurt by the states' actions and urged that the decisions be reversed.

So far, seven Indian states have banned the sale of Coke, Pepsi, Sprite and other brands from Coca-Cola and PepsiCo at government-run schools, colleges and hospitals after a New Delhi-based research group said last week that the soft drinks have pesticides levels that far exceed national standards.

And two more Indian states, Punjab and Arunachal Pradesh, said Thursday they were looking into the matter.

But the Confederation of Indian Industry and the Federation of Indian Chambers of Commerce and Industry -- which together cover more than 90 percent of Indian businesses -- said the moves could hurt the broader economy, slowing foreign investment into the country.