Latest: military spending, Facebook conference, EU budget

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Good morning Europe! It's May 2 and Euronews will be bringing you the latest news updates, with some pictures, video and reactions from social media thrown in.

Here are some of the stories we are watching today:

EU budget: The European Commission will unveil proposals for its 2021-2027 budget. Given the withdrawal of the UK, a significant contributor, it will involve cuts in areas such as agriculture.

Facebook conference: The social network hosts its annual conference in San Jose California.

Military spending: 2.2% of the world's GDP was spent on its military, according to a report by the Stockholm International Peace Research Institute. Five countries account for 60% of the spending.

Catch up with all the latest here: