Twin Cities building activity slips in July: Residential building activity in the Twin Cities was down slightly in July, compared with the same month a year ago, according to statistics released today. Builders pulled 230 permits in July, down from 238 in the same month of 2009. The number of permitted housing units in the metro area also fell, slipping slightly to 265, down from 269. Read full story

Delta leads way as airlines’ profits soar: Airlines may have been pounded financially for the past decade, but changes to their business models over the past couple of years helped make the second quarter one of the best earnings seasons in the industry’s history. According to AirlineFinancials.com, the nine largest airlines collectively reported $1.86 billion in profits on $31.7 billion in revenue during the three months ended June 30. The profits number excludes $713 million for special items. No. 1 in profit and revenue during the second quarter was Atlanta-based Delta Air Lines, which recorded net income of $467 million on revenue of $8.17 billion. Read full story

Freedom Valu CEO dies in accident: David Erickson, CEO of gas station and convenience-store chain Freedom Value Centers, died in a motorcycle accident on Wednesday. The accident occurred near Bozeman, Montana, where Erickson, 55, was riding his motorcycle with his wife, Debi. His wife survived the accident. Read full story

Target to sell Justin Timberlake's fashion line: Target Corp. stores will begin selling pop star Justin Timberlake's fashion line in December. Timberlake started the fashion line, called William Rast, with friend Trace Ayala in 2005. The clothes are now sold at William Rast-branded retail stores in several California cities, as well as at high-end department stores and boutiques. Read full story