Classic French Beef Stew (Red Wine, Rich, Slow-Braised)

Ingredients

• 2 lbs beef chuck, cut into 1.5-inch cubes
• 6 slices thick-cut bacon, diced
• 1 large yellow onion, chopped
• 2 carrots, peeled and sliced
• 4 cloves garlic, minced
• 1 lb cremini mushrooms, halved
• 12 pearl onions, peeled
• 2 cups dry red wine
• 2 cups beef stock
• 1 bay leaf
• 3 sprigs fresh thyme
• Salt
• pepper
• 2 tbsp tomato paste
• 3 tbsp all-purpose flour
• 2 tbsp butter
• 1 tbsp olive oil