Preheat oven to 350°F. Heat oil in an oven-proof Dutch oven over medium heat. Add bacon and cook until browned and crisp; remove onto paper towels. Cook beef in 2 batches so the pan isn’t over-crowded, and the meat can brown instead of steam. Cook beef in bacon grease until nicely browned on all sides. Remove beef to a bowl and set aside. Add mushrooms, carrots, garlic and thyme to pan; cook 5 minutes, stirring frequently. Sprinkle flour over vegetables and cook 1 minute, stirring constantly. Add stock, wine, tomato paste and bay leaf; bring to boil, scraping up any browned bits from pan with a wooden spoon. Stir in beef and any juices, bacon and onions. Cover pan and place in oven. Cook 1 1/2 hours or until beef is tender. If you prefer a thicker stew, return to stove top to simmer, uncovered, 5 to 10 minutes over medium heat, until desired consistency. Remove bay leaf and stir in parsley before serving.