* and / are poor man's substitutes when all you have is ASCII.
× is used for vector products, Cartesian products and products of algebraic structures in general.
The only place I've ever seen × or ÷ being used in arithmetics was primary school. No idea why they use them.
Perhaps because the other prominent use is on the buttons of every single calculator in the world.
I know that's mere anecdotal evidence, but I believe there do exist reliable documentary sources from that era.
What then happens when you need to multiply 2 by 2?
The answer to the first question is that the following line is begun with a multiplication sign.
The answer to the second question is that bold roman type is used for vectors and often for other forms of tensor like a matrix to overload the semantics of dot and cross to not be scalar products were either of their arguments in italic.