Investigation at a φ-factory can shed light on several debated issues in particle physics. We discuss: i) recent theoretical development and experimental progress in kaon physics relevant for the Standard Model tests in the flavor sector, ii) the sensitivity we can reach in probing CPT and Quantum Mechanics from time evolution of entangled kaon states, iii) the interest for improving on the present measurements of non-leptonic and radiative decays of kaons and η/η′ mesons, iv) the contribution to understand the nature of light scalar mesons, and v) the opportunity to search for narrow di-lepton resonances suggested by recent models proposing a hidden dark-matter sector. We also report on the e + e − physics in the continuum with the measurements of (multi)hadronic cross sections and the study of γγ processes.

We present the achievements of the last years of the experimental and theoretical groups working on hadronic cross section measurements at the low-energy e + e − colliders in Beijing, Frascati, Ithaca, Novosibirsk, Stanford and Tsukuba and on τ decays. We sketch the prospects in these fields for the years to come. We emphasise the status and the precision of the Monte Carlo generators used to analyse the hadronic cross section measurements obtained as well with energy scans as with radiative return, to determine luminosities and τ decays. The radiative corrections fully or approximately implemented in the various codes and the contribution of the vacuum polarisation are discussed.

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