Preheat oven to 300 degrees F.
Generously season the meat with salt and pepper on all sides.
Heat 2 tablespoons of oil in a large Dutch oven on medium-high heat. Give the meat a good sear on each side. Remove the meat and set aside.
Reduce heat to medium. Add the onions and saute until they start to brown - about 5 minutes. Add minced garlic and continue cooking for a minute or two.
Add the red wine and deglaze the pan for a minute. Then add the broth, Worcestershire sauce, tomato paste, fresh thyme and rosemary sprigs, and bay leaves. Stir until combined.
Return the meat to the Dutch oven. The liquid should cover half the meat. If not, add more broth. Cover securely and bake for 1 1/2 hours.
Remove from the oven and add the potatoes and carrots. Adjust the salt and pepper if needed and cook for another 2 hours or until the meat is tender and falls apart and vegetables are tender.
Remove the meat and vegetables from the Dutch oven to make the gravy. Make a slurry with 1/4 cup cold water and 2 tablespoons of corn starch and add to the remaining drippings over heat while stirring constantly until thickened. You can repeat this step if gravy is not thick enough.