Heat 1 tablespoon of salad or olive oil in a 4-quart heavy kettle over medium-high heat.

Add beef cubes, a few at a time, and cook until well browned on all sides. Add more oil as needed between batches.

Set browned beef aside.

Add onions to the kettle and cook, stirring, until slightly browned. Remove onions and set aside.

Remove kettle from heat.

Stir in flour, sugar, salt, pepper, and thyme until well combined.

Gradually stir in Italian tomatoes (undrained) and Burgundy wine.

Add bay leaf, orange peel strips, and the browned beef back to the kettle.

Bring to a boil, stirring occasionally.

Reduce heat to low, cover, and simmer for 1 1/2 hours.

Add the browned onions and small new potatoes to the stew.

Continue cooking for 40 minutes longer, or until the beef and vegetables are tender.

Remove and discard the bay leaf and orange strips.

Turn the mixture into a serving dish.

Garnish with chopped parsley before serving.