* Drugstore chain operator CVS Corp. said it had completed its $26.5-billion acquisition of pharmacy benefits manager Caremark Rx Inc. The combined company will be named CVS/Caremark Corp. and will trade on the New York Stock Exchange under the ticker CVS.
* Ray Irani, chairman and chief executive of Occidental Petroleum Corp., earned $55.6 million in 2006, including $27 million in options awards, the Los Angeles-based company said in a regulatory filing.
* Cisco Systems Inc. named former Federal Communications Commission Chairman Michael K. Powell to its board.
* Jacobs Engineering Group Inc. agreed to buy Morristown, N.J.-based Edwards & Kelcey to expand its geographic reach and its services in transportation and other fields. Terms were not disclosed.
* The Ventura County Star offered voluntary buyouts to nearly two dozen employees as it contends with an industrywide advertising slump.