Preheat oven to 325°. In an ovenproof Dutch oven, heat 1 tablespoon oil over medium heat. Brown beef in batches. Remove from pan; sprinkle with salt and pepper., In same pan, heat remaining oil over medium heat. Add onion; cook and stir until tender, 4-6 minutes. Add garlic; cook and stir 1 minute. Stir in bay leaves, thyme, beef and broth; bring to a boil. Bake, covered, 1 hour., Peel and cut remaining vegetables into 1-in. pieces; add to Dutch oven. Bake, covered, until beef and vegetables are tender, 1 to 1-1/4 hours. , In a small bowl, mix cornstarch and water until smooth; stir into stew. Bring to a boil; cook and stir until thickened, 1-2 minutes. Discard bay leaves.