sometimes a shield is made of foil and sometimes both foil and braid.
there are more in depth explanations but basicly the balanced cable uses two signal paths to carry a differential signal relative to reference ground. This is good because noise introduced on the cable is introduced on both lines, so it can be negated at the other end by adding one signal and the inverse of the other. It's called Common Mode Rejection and you can find lots of references on google. It's especially good for small signal wires, like microphone cables.
Unbalanced cable has one signal path carrying a signal relative to reference ground so there is no way to cancel induced noise.