PRESS DIGEST - Philippine newspapers - August 8

MANILA, Aug 8 (Reuters) - These are the leading stories in Manila newspapers on Friday. Reuters has not verified these stories.

- A Supreme Court three-person panel started looking into allegations of bribery in return for a favourable judgment in a corporate dispute over Manila Electric (MER.PS: Quote, Profile, Research, Stock Buzz). (ALL PAPERS)

- The country's financial capital is at risk from floods, earthquakes and minor landslides caused by typhoons and volcanic eruptions from Taal Volcano, according to a World Bank study. (THE MANILA TIMES)

- Amid mounting calls for presidential peace adviser Hermogenes Esperon to resign, several opposition lawmakers said the former military chief should stay in order to deal with the fallout from a stalled territorial deal with Muslim rebels. (MANILA STANDARD TODAY)

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BUSINESS

- Listed firms' combined earnings dropped 4 percent in the first three months of the year and analysts say the situation may not have improved in the second quarter. (BUSINESSWORLD)

- Amid soaring fuel prices, the Department of Energy is pressing Pilipinas Shell Petroleum Corp. to comply with a law requiring the refiner to share its windfall to the public through a public listing. (THE MANILA TIMES)

- Vehicle sales rose 14 percent in the first seven months of the year compared to a year ago. (MANILA STANDARD TODAY) ($1 = 43.94 pesos) (Reporting by Carmel Crimmins; Editing by Louise Heavens)