Charming penguins in B -> pi pi from QCD light-cone sum rules

We use QCD light-cone sum rules to examine the B -> pi pi hadronic matrix element of the current-current operator with c quarks in the penguin topology (``charming penguin'') as a potential source of the substantial O(1/m_b) effects. Our results indicate that charming penguins do not generate sizable nonperturbative effects at finite m_b. The same is valid for the penguin contractions of the current-current operators with light quarks. The dominant penguin topology effects are predicted to be O(\alpha_s). Still, the nonperturbative effects at finite m_b can accumulate to a visible effect that is illustrated by calculating the CP-asymmetry in the B^0_d -> pi^+ pi^- decay.