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In a large mixing bowl, add the veal, soy sauce, sugar, salt and pepper. Combine thoroughly, and then add the red wine marinade, making sure all the veal is coated. Cover with plastic wrap, then refrigerate for at least 2 hours or overnight for a better result.
Remove from the refrigerator and bring to room temperature. Remove the veal from the marinade, shaking to remove excess. Reserve the marinade.
For the veal: Heat a heavy-bottomed saucepan over medium heat, add the olive oil, thyme and bacon. Saute for 1 minute, then turn the heat to high. Add the veal and cook, turning, until all sides are browned, 3 minutes. Add the carrots and onions, and stir-fry for 2 minutes. Add the reserved red wine marinade. Bring to a boil, then reduce the heat to a low simmer. Cover and cook until tender, 1 hour 30 minutes.