Rare and radiative decays of $B$ mesons probe the SM directly at the quantum level and are therefore highly sensitive to new phenomena. Among them, the inclusive radiative $\bar B \to X_s \gamma$ decay is one of the standard candles in the indirect search for new physics. I report on two recent calculations that aim at improving the SM prediction of the decay rate. First, multi-parton contributions formally complete the prediction at NLO, second, the interference of current-current into magnetic dipole operator was computed at NNLO for the physical value of the charm-quark mass. I will discuss the size of these contributions, present the updated SM prediction, compare to experimental measurements and present some implications for BSM searches.
Description