Add half the oil to large dutch oven and set over medium-high heat. Season flour with salt & pepper. Pat meat dry and then dredge meat in flour. Add to pot. Brown on all sides and set aside. Will need to do this in two batches.
Add remaining oil to pot and cook your onion to just softened. Add beef stock, tomato paste, and garlic powder and bring to a simmering boil. Place meat back into the pot and cook for an additional 1-2 minutes.
Slowly add in your wine until thickened and reduced, about 2 minutes. Add soy sauce, thyme, and bay leaf. Bring back to a boiling simmer. Place in preheated oven for 1 hour.
After 1 hours is up, remove pan from over and discard the bay leaf and thyme sprigs and add carrots and potatoes. Stir, and place back in oven for an additional hour 15 minutes at 300 degrees.