LOFT, the large observatory for X-ray timing, is a new mission concept competing with other four candidates for a launch opportunity in 2022-2024. LOFT will be performing high-time resolution X-ray observations of compact objects, combining for the first time an unprecedented large collecting area for X-ray photons and a spectral resolution approaching that of CCD-based X-ray instruments (down to 200 eV FWHM at 6 keV). The operating energy range is 2-80 keV. The main science goals of LOFT are the measurement of the neutron stars equation of states and the test of General Relativity in the strong field regime. The breakthrough capabilities of the instruments on-board LOFT will permit to open also new discovery windows for a wide range of Galactic and extragalactic X-ray sources.

In this contribution, we provide a general description of the mission concept and summarize its main scientific capabilities.

In the past years, a clear picture of the evolution of outbursts of black-hole X-ray binaries has emerged. While the X-ray properties can be classified into our distinct states, based on spectral and timing properties, the observations in the radio band have shown strong links between accretion and ejection properties. Here I briefly outline the association between X-ray timing and jet properties.

The space-time around Neutron Stars is indeed an extreme environment. Whether they are in accreting binary systems, isolated or in non-accreting binaries (perhaps with another Neutron Star), Neutron Stars provide a window onto physical processes not accessible by other means. In particular, the study of their time variability: pulsations, quasi-periodic oscillations, thermonuclear X-ray bursts, flares and giant-flares, pulsar glitches and pulse period variations, constitutes a valuable instrument to unveil those very same physical processes. Here we briefly summarize the most important results presented at Joint Discussion 3 of the XXVII IAU General Assembly.

We summarize the broad band spectral properties of a small sample of bright Intermediate Polars studied with BeppoSAX.

We present the results of a Chandra observation of the old open cluster M 67; 25 cluster members and 13 suspected members were detected, including 22 binaries. We believe that the X-rays of most systems can be explained by enhanced activity due to rapid rotation in a tidally locked orbit. This cannot be the case for the blue and yellow stragglers with orbital periods between 40 and 5000 d, like the new source S 997. We do not understand the X-rays of these long-period binaries.