Cube beef and then season generously with salt and black pepper. In a large skillet over medium heat, add oil. When hot but not smoking, add meat and quickly sear for about 4 minutes or until most of red is gone even though meat is not totally cooked; remove from heat and set aside.
In a slow cooker, add onion, carrot, celery, garlic, diced tomatoes, tomato paste, chicken broth, beef broth, red wine, barley, Worcestershire sauce and rosemary; stir to combine. Add seared meat including the drippings; stir well. Add bay leaf and cook for 4 ½ hours on “High” or 8 hours on “Low”, or until beef is tender and vegetables are cooked.
If using stove top instead of slow cooker, simmer for 1 hour on medium heat.