We review recent theoretical progress in the computation of radiative corrections beyond one loop within the standard model of electroweak interactions, in both the gauge and Higgs sectors. In the gauge sector, we discuss universal corrections of [Formula: see text], [Formula: see text], [Formula: see text] and [Formula: see text], and those due to virtual [Formula: see text]-threshold effects, as well as specific corrections to [Formula: see text] of [Formula: see text], [Formula: see text] and [Formula: see text] including finite-mb effects. We also present an update of the hadronic contributions to Δα. Theoretical uncertainties, other than those due to the lack of knowledge of MH and mt, are estimated. In the Higgs sector, we report on the [Formula: see text] corrections to [Formula: see text] including those which are specific for the [Formula: see text] mode, the [Formula: see text] corrections to [Formula: see text] including the finite-mq terms, and the [Formula: see text] corrections to Γ(H → gg).