  The observation of a sizable direct CP asymmetry in the inclusive decays B ->
X_s gamma would be a clean signal of New Physics. In the Standard Model, this
asymmetry is below 1% in magnitude. In extensions of the Standard Model with
new CP-violating couplings, large asymmetries are possible without conflicting
with the experimental value of the B -> X_s gamma branching ratio. In
particular, large asymmetries arise naturally in models with enhanced
chromo-magnetic dipole transitions. Some generic examples of such models are
explored and their implications for the semileptonic branching ratio and charm
yield in B decays discussed.
